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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BJP 'mastermind' behind Sunetra Pawar's appointment as deputy CM, claims Saamana
Mumbai (PTI): The Opposition Shiv Sena (UBT) on Monday claimed the BJP leadership was the "mastermind" behind NCP leader Sunetra Pawar taking oath as Maharashtra deputy chief minister, just days after her husband Ajit Pawar's demise.
An editorial in the Sena (UBT) mouthpiece 'Saamana' also alleged that the BJP leadership and Nationalist Congress Party leaders Sunil Tatkare and Praful Patel do not want the unification of the two NCP factions.
Sunetra Pawar took oath as the state's first woman deputy CM on Saturday, barely three days after NCP leader Ajit Pawar was killed along with four others in an air crash at Baramati in Pune district, inviting criticism from some quarters over the pace at which the development took place.
Rival NCP (SP) chief and Ajit Pawar's uncle, Sharad Pawar, on Saturday claimed that he had "no idea" about her swearing-in.
The editorial said Sunetra Pawar's deputy CM post should not be ornamental, and opined that she may not be "gungi gudiya" (mute doll) and work effectively.
The NCP is in an alliance with the "sanatani-minded" BJP, and Sunetra Pawar taking oath even before the completion of her husband's post-death rituals does not fit into the Hindutva beliefs, it claimed.
The editorial said that the question before Maharashtra is on whose wish Sunetra Pawar took oath as deputy CM, because neither NCP (SP) president Sharad Pawar, its working president Supriya Sule, nor members of the Pawar family were aware of this.
Sunetra Pawar didn't even give the slightest hint that she was leaving for Mumbai from Baramati for the swearing-in, it said.
The BJP leadership is the "mastermind" behind this politics, the Uddhav Thackeray-led Shiv Sena (UBT) claimed.
"The complications have increased in the Pawar family and Maharashtra politics after Ajit Pawar's death. Many wish that these issues do not get sorted out," it added.
The editorial claimed that after Ajit Pawar's death, there was unease in the NCP, as some leaders became more ambitious and there was a race to take charge as the deputy CM within the party.
There are differences between Patel and Tatkare, and Sunetra Pawar was "installed" as deputy CM because the party of "Patil-Pawar" should not go to Patel, it claimed, referring to NCP Working president Praful Patel.
Sunetra Pawar was made to steer the ship, but its engine and control are with Chief Minister Devendra Fadnavis. Both Sunetra Pawar and Eknath Shinde-led Shiv Sena can maintain their existence at the mercy of Fadnavis, the Sena (UBT) charged.
The editorial said that the BJP will surely contest the 2029 assembly polls independently, and many MLAs from the Shiv Sena and the NCP will join the saffron party.
