<h1>Insolvency and Bankruptcy Code reform focuses on faster resolution, out-of-court settlements, and cross-border insolvency provisions.</h1> The Insolvency and Bankruptcy Code is described as a revival and resolution framework that has generated substantial recoveries through resolution of bankrupt companies and improved creditor-debtor discipline. The proposed amendment bill seeks to reduce the time taken for admission of insolvency resolution applications, speed up case clearance, support out-of-court resolution, and address cross-border insolvency and discretionary provisions.