<h1>Insolvency Code Amendment 2017 Boosts Approval of Resolution Plans by NCLT, Strengthening Insolvency Process.</h1> The enactment of The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 did not lead to a decrease in the approval of resolution plans. Since the ordinance took effect, the National Company Law Tribunal has approved eight resolution plans, compared to five prior to the ordinance. The ordinance, effective from November 23, 2017, aimed to strengthen the insolvency resolution process by restricting certain individuals from submitting plans due to potential credibility concerns. It was replaced by The Insolvency and Bankruptcy Code (Amendment) Act, 2018 on January 18, 2018, as noted by a government official in the Rajya Sabha.