<h1>Insolvency resolution of large non-bank finance companies brought under IBC framework via FSP rules, strengthening resolution process.</h1> Six amendments to the Insolvency and Bankruptcy Code and over one hundred regulatory changes by the Insolvency and Bankruptcy Board of India have been made to strengthen insolvency resolution, streamline implementation, and maximize asset value. Under Section 227, the Central Government, in consultation with the Reserve Bank of India, has notified that insolvency and liquidation proceedings of specified Non-Banking Finance Companies shall proceed under the Code read with the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019.