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“The Union Cabinet on Tuesday (March 10, 2026) approved amendments to the insolvency law and the Companies Act,” according to sources. Specific details could not be immediately ascertained.
The sources said the Cabinet has cleared various amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, 2013. Both laws are implemented by the Corporate Affairs Ministry.
In August last year, the Ministry had introduced a Bill in the Lok Sabha to amend the 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.
Last month, Finance and Corporate Affairs Minister Nirmala Sitharaman had said the government intends to introduce the IBC (Amendment) Bill, 2025 in the second half of the Budget session. The session commenced on Monday (March 9, 2026).
Published – March 10, 2026 03:34 pm IST