<h1>New Bill Proposes Out-of-Court Insolvency, Group and Cross-Border Frameworks Under IBC Amendments</h1> The government introduced a bill to amend the insolvency law, proposing an out-of-court mechanism for genuine business failures, group insolvency frameworks, and cross-border insolvency provisions. The bill aims to reduce delays, maximize stakeholder value, and improve governance under the Insolvency and Bankruptcy Code. It introduces a creditor-initiated insolvency resolution process to enable faster, cost-effective resolutions with minimal disruption. The group insolvency framework seeks coordinated resolution for complex corporate groups, while the cross-border framework aims to protect stakeholder interests and align with international practices. The bill was referred to a select committee after extensive stakeholder consultations and builds on multiple amendments to the Code since its enactment in 2016.