Insolvency law main factor in improving health of country's banking sector: FM in Lok Sabha
New Delhi (PTI): Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said in the Lok Sabha that the Insolvency and Bankruptcy Code (IBC) has been a main and very crucial factor in improving the health of the country's banking sector, including recovery of non-performing assets.
Piloting a bill for further amending the IBC in the Lok Sabha, the minister stressed that companies have been doing well and their corporate governance practices have also improved after coming out of the insolvency resolution process.
She made the remarks while replying to the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, as reported by the Select Committee.
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The Bill has proposed 12 amendments to the IBC, which came into force in 2016.
The IBC has been a main and very crucial factor in improving the health of the country's banking sector, Sitharaman said, adding that more than half of the NPAs (Non-Performing Assets) have been recovered by the banks through the resolution process.
On August 12, 2025, the government introduced the 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 was referred to a select committee of the Lok Sabha, which submitted its report in December 2025.
IBC has been amended seven times so far.
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Retired Army brigadier killed in cross firing in Dehradun road rage
Dehradun (PTI): A retired Army brigadier was killed here after he was caught in cross firing between two car occupants during a road rage incident on Monday, police said.
The incident took place in Johri village on Mussoorie Road when an argument broke out between the occupants of a Delhi-registered Fortuner and a Scorpio N over giving way, they said.
As the argument escalated, the occupants in the Scorpio allegedly chased the Fortuner and opened fire at its tyres, but a bullet struck retired Army brigadier Mukesh Joshi (74), who was out for his morning walk, police said.
Joshi was taken to a hospital, where he died during treatment, they added.
According to the police, after a bullet hit the Fortuner's tyre, the driver lost control of the vehicle and crashed it into a roadside tree near the Government Primary School in Johri.
The occupants of the Scorpio then assaulted the people inside the Fortuner and vandalised the vehicle, police said.
Two occupants of the Fortuner were injured in the incident and were taken to a hospital by their co-passengers After the incident, all the accused travelling in the Scorpio fled the scene, a senior police officer said.
Upon receiving information, Dehradun Senior Superintendent of Police (SSP) Pramendra Singh Dobal, along with other officials, visited the spot to take stock of the situation and then visited the hospital to gather details from the victims.
Dehradun Superintendent of Police (City) Pramod Kumar said roadblocks have been set up across the entire district, and an intensive search operation is underway to arrest the accused.
He added that footage from CCTV cameras installed at the crime scene and on surrounding routes is being scrutinised.
