Lok Sabha has resumed discussion on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. The Bill aims to further amend the Insolvency and Bankruptcy Code 2016. It seeks to address procedural delays and interpretational issues among companies and individuals.
Participating in the discussion, Jagdambika Pal of the BJP said the Indian economy was in 11th position in 2014, but now it has become the fourth-largest economy in the world. He said that financial inclusion was promoted and financial discipline was maintained in the last 10 years. He said the Insolvency and Bankruptcy Code was implemented in 2016, and now the amendments have been brought to make it more effective. He said, Non-Performing Assets of the Public Sector Bank had reached over two lakh crore rupees in 2014, and the Banks were not in a position to give debt. Gowaal Kagada Padavi of Congress said efforts must be taken to make IBC more transparent and accountable. He urged the government to send the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, to the Select Committee for further scrutiny. The discussion remains inconclusive, and the house has been adjourned till Monday.
