3 months ago
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“The Union Cabinet connected Tuesday (March 10, 2026) approved amendments to the insolvency instrumentality and the Companies Act,” according to sources. Specific details could not beryllium instantly ascertained.
The sources said the Cabinet has cleared assorted amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, 2013. Both laws are implemented by the Corporate Affairs Ministry.
In August past year, the Ministry had introduced a Bill successful the Lok Sabha to amend the IBC, proposing a raft of changes, including provisions to trim the clip taken for admittance of insolvency solution applications.
The Bill, which was referred to a prime committee of the Lok Sabha, has besides submitted its study successful December 2025.
Last month, Finance and Corporate Affairs Minister Nirmala Sitharaman had said the authorities intends to present the IBC (Amendment) Bill, 2025 successful the 2nd fractional of the Budget session. The league commenced connected Monday (March 9, 2026).
