IBC Amendment Bill to be Tabled in Budget Session; Government to Accept All Recommendations
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Moneycontrol•21-01-2026, 20:21
IBC Amendment Bill to be Tabled in Budget Session; Government to Accept All Recommendations
- •The government is expected to accept all 11 recommendations from the Parliament's Select Committee on the IBC (Amendment) Bill.
- •The bill, proposing 68 amendments to the 2016 Principal Act, will be tabled in the Budget Session, likely in February.
- •Recommendations clarify fundamental principles like the Clean Slate Principle and asset distribution, aiming to remove confusion.
- •The Clean Slate Principle ensures new owners start fresh, free from pre-existing liabilities not in the resolution plan.
- •The Select Committee, led by BJP leader Baijayant Panda, also suggested NCLAT dispose of IBC appeals within three months.
Why It Matters: Government likely to adopt all Select Committee recommendations for the IBC Amendment Bill, clarifying key principles.
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