IBC Amendment Bill to be Tabled in Parliament After Recess: Nirmala Sitharaman

• Finance Minister Nirmala Sitharaman announced the revised IBC amendment bill is expected in Parliament after the Budget session recess.
• The bill, referred to a parliamentary select committee last year, has received its report, paving the way for government action.
• Key recommendations include decriminalizing minor procedural violations, replacing them with civil penalties to reduce litigation.
• The committee also proposed tighter, more explicit timelines for insolvency proceedings, including at the appellate level, to speed up resolutions.
• The IBC 2.0 amendments aim to address existing gaps, streamline procedures, and ensure faster resolution of stressed assets.

Why It Matters: Revised IBC amendment bill, incorporating parliamentary panel recommendations, will be tabled post-recess to streamline insolvency.