IBC amendments a game-changer: Panda

The proposed overhaul of India’s Insolvency and Bankruptcy Code (IBC) is a game-changer that will cut the time taken to rehabilitate struggling corporations by half and dramatically step up recoveries, according to Baijayant Panda, chairperson of the Lok Sabha select committee that reviewed the IBC (Amendments) Bill 2025.

- Gireesh Chandra Prasad

The committee had tabled its report on the Bill in Lok Sabha last week and the ministry of corporate affairs is expected to move a revised Bill in the budget session of Parliament for passage.

Panda said the concept of project-specific insolvency resolution in the case of real estate sector goes against the grain of IBC, which entails displacing the defaulting management and disqualifying them from bidding again for the firm, unless they make good the defaulted amount.

Panda’s view is significant because the Supreme Court had proposed to the government to consider project-specific insolvency resolution in the real estate sector in its judgement on the Mansi Brar Fernandes vs Shubha Sharma & ANR case in September.