Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Govt's IBC overhaul plan to shift power from courtrooms to boardrooms
Mint Chennai
|August 13, 2025
India's bankruptcy playbook is set for its biggest rewrite since the Insolvency and Bankruptcy Code (IBC) came into force in 2016.
The IBC (Amendment) Bill 2025—tabled in the Lok Sabha on Tuesday by finance and corporate affairs minister Nirmala Sitharaman and referred to a select committee—proposes to shift much of corporate debt resolution from crowded courtrooms to boardroom tables.
The Bill outlines a creditor-led, largely out-of-court insolvency process for quick rescue, faster tribunal timelines, a new framework for group insolvencies and cross-border bankruptcies, and clearer rules on the priority of government dues.
At present, insolvency cases that are meant to be admitted within 14 days take an average 434 days, eroding value for lenders and shareholders.
"The proposed amendments aim to reduce delays, maximize value for all stakeholders, and improve governance," Sitharaman said in a statement tabled along with the Bill.
This story is from the August 13, 2025 edition of Mint Chennai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Chennai
Mint Chennai
The oil mystery behind the US pressure on Iran
The U.S. government, oil traders and private analysts are divided over how much time Tehran has before it runs out of places to stash its crude.
4 mins
May 23, 2026
Mint Chennai
In his debut memoir, Rahul Akerkar bares it all
Split chins. Cut fingers. Toxic boardrooms. Idyllic days on the Mediterranean. Who would guess we are talking not about the latest potboiler, but chef Rahul Akerkar’s memoir, Biting Off More Than I Can Chew (HarperCollins India).
3 mins
May 23, 2026
Mint Chennai
LTM buys Randstad units for $186 mn in boost for revenue
Acquisition of tech and consulting business represents €469 million in annual revenue
2 mins
May 23, 2026
Mint Chennai
The dissident who draws on lapses
Anonymous political satirist and cartoonist PenPencilDraw’s turns headlines into a sharp visual commentary about our times
5 mins
May 23, 2026
Mint Chennai
RBI hikes risk buffer, preps peak dividend
FY26 dividend at record ₹2.87 tn; risk buffer raised by ₹1.09 tn
3 mins
May 23, 2026
Mint Chennai
Sunglasses for every mood and setting
Whether you prefer classic lines or bold statements, there's something to cut the glare
1 min
May 23, 2026
Mint Chennai
Toddy finds new life on modern menus
Coconut toddy and its by-products are finding new applications as sweeteners, glazes and flavourful sauces
4 mins
May 23, 2026
Mint Chennai
Data centre, GCC biz see new users
Non-IT companies, including real estate, staffing and cab-hailing platforms, are setting up global capability centre (GCC) practices or investing in data centres to capitalize on growing technology needs as automation tools rewrite how companies run their businesses.
2 mins
May 23, 2026
Mint Chennai
An excess of frippery and indulgence
With its lavish design and whimsical appearance, ‘Taste’ feels like an overpriced plaything, not a deep dive into an idea
5 mins
May 23, 2026
Mint Chennai
AI firm C5i revives IPO plan to raise ₹1,200 cr
Artificial intelligence (AI)-led analytics firm C5i, formerly known as Course5 Intelligence, has revived plans to raise ₹1,000-1,200 crore through an initial public offering (IPO), nearly three years after shelving its earlier listing attempt due to weak market conditions, according to two people familiar with the matter.
1 min
May 23, 2026
Listen
Translate
Change font size