https://www.taxtmi.com/news?id=72089 The Insolvency and Bankruptcy Code is presented as a framework for corporate resolution and banking-sector improvement through asset recovery, with liquidation remaining a residual measure where resolution fails. The current amendments focus on expeditious admission based on the existence of default, greater reliance on information utilities, statutory timelines, stronger liquidation oversight, and a creditor-initiated insolvency framework with out-of-court initiation, debtor-in-possession structure, and defined timelines. The amendments also enable group and cross-border insolvency and exempt MSMEs from specified disqualifications so that existing promoters may participate in resolution. en-us Wed, 01 Apr 2026 20:16:02 +0530 Wed, 01 Apr 2026 20:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72089 The Insolvency and Bankruptcy Code is presented as a framework for corporate resolution and banking-sector improvement through asset recovery, with liquidation remaining a residual measure where resolution fails. The current amendments focus on expeditious admission based on the existence of default, greater reliance on information utilities, statutory timelines, stronger liquidation oversight, and a creditor-initiated insolvency framework with out-of-court initiation, debtor-in-possession structure, and defined timelines. The amendments also enable group and cross-border insolvency and exempt MSMEs from specified disqualifications so that existing promoters may participate in resolution. News - Wed, 01 Apr 2026 20:16:02 +0530 https://www.taxtmi.com/news?id=72089