Changes to insolvency rules welcome, but complex cases may overwhelm system

The nine-year-old Insolvency and Bankruptcy Law has already undergone six rounds of amendments since its inception 2016, but none have been so wide-ranging and corrective in action as those proposed in the Bill tabled in the recently concluded monsoon session of Parliament. Unlike its initial years, when ordinances changed the Insolvency and Bankruptcy Code’s (IBC) key provisions overnight, the latest round of proposed changes have come after deliberations lasting three years. Read Article