<h1>CLC Suggests Aligning Companies Act with Insolvency and Bankruptcy Code, Retains Winding Up Provisions for Non-Insolvency Cases.</h1> The Companies Law Committee (CLC) reviewed recommendations from the Bankruptcy Law Reforms Committee (BLRC) regarding amendments to the Companies Act, 2013. The BLRC's final report suggested introducing a Bankruptcy Code for India, leading to the introduction of the Insolvency and Bankruptcy Code, 2015 in the Lok Sabha. This Code aims to repeal provisions related to insolvency in Chapters XIX and XX of the Companies Act, consolidating insolvency matters under the new Code. The CLC recommends retaining provisions for winding up on non-insolvency grounds within the Companies Act, with amendments to align procedures with the Bankruptcy Code, handled by the National Company Law Tribunal (NCLT).