New Delhi, 1 October (IANS) Lok Sabha has constituted a selection committee to investigate the insolvency and bankruptcy (amendment) bill, 2025, and senior MP Baijyant Panda has been appointed as its chairman.
The 24-Member-Panel includes a diverse mix of MPs in parties, including Supriya Sule, Mahua Motra, Karti P Chidambaram, Bipalab Kumar Deb and Dr. CN Manjunath is included.
The Insolvency and Bankruptcy Code (IBC), implemented in 2016, is a historical reform that aims to strengthen the corporate crisis and the solution of individual insolvency. This provides a time-bound framework to solve insolvency, maximize asset value and improve credit discipline.
The 2025 Amendment Bill tries to refine the existing provisions, plug procedural interval and develop the efficiency of the resolution system according to developing economic realities.
The mandate of the Select Committee is to check the bill clause-by-clause, assess its impact on stakeholders and recommend improvement. Using the AI-operated legislative devices, the panel will analyze the data from previous insolvency cases, simulate the results under the proposed changes, and evaluate the alignment of the bill with global best practices.
This technique-competent perspective is expected to improve the accuracy and speed of parliamentary reviews.
Chairperson Bajyant brings extensive legislative experience and policy skills to the role of Panda. Under his leadership, the committee is expected to expect to join the industry experts, legal scholars and financial institutions to ensure that the bill reflects practical needs and protects public interests.
The committee consists of members with background members in law, finance, and governance, such as Dr. D. Purundswari, Dr. Sanjay Jaiswal and Dr. Srikanth Eknath Shinde. Their expertise will be important in navigating complex provisions related to cross-border, pre-packed resolution plans and creditor rights.
The panel discussions will be important in shaping India’s insolvency scenario, especially after the post-economy after-reorganization and struggling with growing corporate debt.
The committee is expected to submit its report in the upcoming session, which paves the way for informed debate and legislative action. This development underlines Parliament’s commitment to strengthen financial reforms and highlights the growing role of data-manual policy in India’s legislative process.
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SKTR/UK