Page 2 - Latest Updates on IBC
IBBI proposes bidders disclose beneficial ownership in their entities
The insolvency regulator has proposed mandatory beneficial ownership disclosures by bidders under the Insolvency and Bankruptcy Code to improve due diligence and prevent misuse of Section 32A immunity
 "IBBI proposes bidders disclose beneficial ownership in their entities")
Circular resolving IBC-PMLA clashes soon, says IBBI chief Ravi Mital
IBC and PMLA have often clashed with each other in cases where the assets of an entity undergoing insolvency have been attached by the ED for money laundering activities
 "Circular resolving IBC-PMLA clashes soon, says IBBI chief Ravi Mital")
Best of BS Opinion: GST 2.0 reforms miss underlying core principles
Today's pieces look at the available space for more rate cuts, the sorry state of tribunals, why GST reforms are not really that, and how India can harness its vast non-export MSME sector
 "Best of BS Opinion: GST 2.0 reforms miss underlying core principles")
Reforming tribunals: Rising vacancies at the top are hampering efficiency
According to legal think tank Daksh's State of Tribunals 2025 report, India's commercial tribunals face a backlog of 356,000 cases, worth ₹24.2 trillion (as of September)
 "Reforming tribunals: Rising vacancies at the top are hampering efficiency")
SC overturning order in BPSL case a course correction for IBC: Experts
The SC has also addressed the issue of delays in the IBC due to litigation and extensions, which stand in the way of implementing a successful resolution plan
 "SC overturning order in BPSL case a course correction for IBC: Experts")
Indian real estate sector expects wave of reforms after SC judgment
2-judge Bench issued a wide-ranging set of 12 binding directions, including framing of specific guidelines for insolvency proceedings in real estate
 "Indian real estate sector expects wave of reforms after SC judgment")
Changes to insolvency rules welcome, but complex cases may overwhelm system
While many of the proposed amendments to the IBC, such as cross-border and group insolvency, will make the resolution process smoother, certain issues such as limited judicial capacity could weaken
 "Changes to insolvency rules welcome, but complex cases may overwhelm system")
IBC Amendment: More clarity, less reform, focuses on incremental fixes
By sidestepping deeper structural issues and leaning on delegated legislation, it offers incremental fixes where the system needs a transformative overhaul
 "IBC Amendment: More clarity, less reform, focuses on incremental fixes")
Want fresh resolution process: BPSL ex-promoters to Supreme Court
SC recalls earlier order liquidating BPSL; promoters call for fresh bidding as legal experts flag rare instance of review under IBC and Article 142 powers
 "Want fresh resolution process: BPSL ex-promoters to Supreme Court")
IBBI calls for CoC to discuss, record section 29A eligibility under IBC
The idea behind the proposed changes to IBC regulations is to bring more transparency and procedural fairness to corporate insolvency resolution
Resolution process: Govt must address emerging gaps in the IBC framework
Even as the matter is being heard in the court, the government would be well advised not to ignore the earlier judgment
 "Resolution process: Govt must address emerging gaps in the IBC framework")
IBC enabled debt resolution of ₹26 trillion in 9 years, says Crisil
The Insolvency and Bankruptcy Code (IBC) has led to the resolution of Rs 26 trillion in debt over nine years, creating significant deterrence among borrowers and offering flexible resolution framework
Nearly a decade into its existence, IBC framework needs to be reimagined
The famous "tareekh pe tareekh" dialogue from the Hindi movie Damini captures where we are now
 "Nearly a decade into its existence, IBC framework needs to be reimagined")
Parliamentary panel on finance to meet today, review IBC, emerging issues
The central government is likely to bring an amendment in the Insolvency and Bankruptcy Code (IBC) in the upcoming monsoon session of Parliament
 "Parliamentary panel on finance to meet today, review IBC, emerging issues")
Lenders ask bidders to sweeten offers for debt-laden Jaiprakash Associates
CoC in final phase of assessing resolution plans from 5 shortlisted bidders
 "Lenders ask bidders to sweeten offers for debt-laden Jaiprakash Associates")
RBI Governor Sanjay Malhotra to appear before House panel on July 10
At its previous two meetings on the subject on May 28 and 29, the parliamentary standing committee on finance had flagged "ambiguities" in the IBC
 "RBI Governor Sanjay Malhotra to appear before House panel on July 10")
IBC cases breaching resolution timeline hit 78% in FY25: Ind-Ra report
Ind-Ra notes rising resolution timelines and lowest recovery levels since FY21 under the IBC framework, cautioning this could affect bond market deepening and investor confidence
 "IBC cases breaching resolution timeline hit 78% in FY25: Ind-Ra report")
Parliamentary panel to review IBC and propose reforms for efficiency
The Centre is expected to table an amendment Bill in the monsoon session as a parliamentary panel examines the Code amid concerns flagged by the Supreme Court
Parliamentary panel flags 'ambiguities' in IBC; govt mulls amendments
Following the status quo put on BPSL's liquidation, a parliamentary panel has deemed the existing IBC not up to the mark
IBBI allows RPs to invite resolution plans for individual asset sales
Amendments to IBBI regulations enable flexibility in insolvency resolution by permitting asset-wise resolution plans with committee of creditors' approval