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House panel mulls steps to break bankruptcy deadlocks

Mint Kolkata

June 04, 2025

The review comes amid demands for speeding up debt resolution, improving recovery rates

- Gireesh Chandra Prasad

The Parliamentary Standing Committee on Finance is set to suggest measures aimed at speeding up decisions and boosting creditor recoveries under the Insolvency and Bankruptcy Code (IBC), two people familiar with the matter said, as protracted legal wranglings choke the lending pipeline for banks.

The suggestions will follow the committee's ongoing review of the Code. The review comes amid growing calls for speeding up debt resolution and improving recovery rates, following legal complexities exposed by the recent Supreme Court ruling in the Bhushan Power & Steel resolution case.

The House panel, led by lawmaker Bhartruhari Mahtab, met last week with officials from the ministry of corporate affairs and the Insolvency and Bankruptcy Board of India (IBBI), along with executives of three state-run banks, to assess the performance of the Code since its rollout in 2016.

यह कहानी Mint Kolkata के June 04, 2025 संस्करण से ली गई है।

हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।

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