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<h1>Insolvency Code Review Reveals Critical Gaps in Corporate Bankruptcy Resolution Process Requiring Urgent Legislative Refinement</h1> A parliamentary committee highlighted ambiguities in the Insolvency and Bankruptcy Code, suggesting potential amendments. The review followed a Supreme Court judgment involving a major corporate resolution plan. Committee members discussed resolution process delays and existing legal gaps. Government representatives appeared before the panel, indicating ongoing efforts to refine the insolvency framework. Sources suggest further legislative modifications may be considered to address emerging challenges in corporate bankruptcy proceedings.