Govt to introduce IBC Amendment Bill in second half of Budget session starting Mar 9: FM
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Monday said the government intends to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session beginning March 9 as the parliamentary committee has already submitted its report.
The proposed amendments to insolvency law would help further enhancement in the timelines and effectiveness of proceedings as well as alignment of India's insolvency regime more closely with the global best practices.
The parliamentary committee has submitted its report as far as proposed legislation with respect to Insolvency and Bankruptcy Code (IBC) is concerned, she said during an interaction with the media a day after presenting Budget 2026-27 in the Lok Sabha.
"I expect, subject to conditions, to table the Insolvency and Bankruptcy Code (Amendment) Bill in the second half of Budget session starting March 9 incorporating suggestion of the committee," the Finance Minister, who also holds the Corporate Affairs Ministry portfolio, said.
This is going to be the seventh amendment to IBC Act implemented in 2016. So far, it has undergone six legislative interventions since its enactment and the last amendment was in 2021.
The IBC brought about changes in the debtor-creator relationship and was able to instill fear among companies and promoters about insolvency if they fail to repay debts.
On August 12, 2025, the government introduced a Bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a raft of changes, including provisions to reduce the time taken for admission of insolvency resolution applications.
The Bill, which was referred to a select committee of the Lok Sabha, has also submitted its report in December 2025.
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US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
