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Parliamentary panel to review IBC and propose reforms for efficiency

The Centre is expected to table an amendment Bill in the monsoon session as a parliamentary panel examines the Code amid concerns flagged by the Supreme Court Ruchika Chitravanshi New Delhi Listen to This Article A parliamentary panel is taking a comprehensive look at the Insolvency and Bankruptcy Code (IBC) to suggest the changes and measures that need to be taken to make it more efficient, a senior government official said. 'The committee is looking at IBC in totality, just as they did with the Competition Law as well,' the senior official said. The government is expected to bring the IBC Amendment Bill in Parliament in the upcoming monsoon session. Several Supreme Court rulings in the recent past have pointed to gaps in the implementation of the IBC, the latest being the Bhushan Power and