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RBI wants IBC to replace may with shall to speed up bankruptcy approvals

RBI wants IBC to replace may with shall to speed up bankruptcy approvals

India’s bankruptcy process under the IBC is plagued by long delays, with cases lingering for years. RBI now proposes tightening timelines by changing key wording: moving from “may” to “shall” for whether authorities admit insolvency applications. An amendment bill incorporating the regulator’s suggestions is expected to be tabled in the upcoming budget session.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Centre Ordinance Pushes Pre Packed Insolvency for MSMEs to Speed Restructuring Talks

Centre Ordinance Pushes Pre Packed Insolvency for MSMEs to Speed Restructuring Talks

The Centre has promulgated an ordinance amending the Insolvency and Bankruptcy Code to introduce pre-packaged insolvency for MSMEs. Under the change, a firm prepares a restructuring plan in coordination with creditors before formal insolvency proceedings start. The goal is to reduce delays and overall costs by front-loading negotiations and speeding up resolution.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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IBC amendment targets faster prepack resolutions for MSMEs with lower costs

IBC amendment targets faster prepack resolutions for MSMEs with lower costs

An amendment to India’s Insolvency and Bankruptcy Code is being proposed to introduce “prepack” resolutions for MSMEs. The alternative framework aims to make insolvency outcomes quicker and more cost-effective than traditional processes, potentially reducing delays and legal expenses for small businesses facing financial stress.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Supreme Court backs IBC as investment engine with time bound insolvency focus

Supreme Court backs IBC as investment engine with time bound insolvency focus

The Supreme Court has emphasized that India’s Insolvency and Bankruptcy Code is designed not just to resolve insolvencies, but to actively promote investment. It highlighted the code’s time bound approach for corporate persons, firms, and individuals, reinforcing that swift resolutions can strengthen investor confidence and improve India’s global appeal.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Gensol twins explore NCLT resolution under IBC as creditors brace for next steps

Gensol twins explore NCLT resolution under IBC as creditors brace for next steps

Gensol twins are reportedly considering a move to the NCLT to seek resolution under India’s Insolvency and Bankruptcy Code. Analysts say pursuing IBC options could benefit the company and its broader stakeholder base, including lenders and other creditors, by enabling a structured resolution process. The next decision could determine how claims and revival plans play out.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
NCLT adds 20 members as Supreme Court cracks down on IBC delays and timelines

NCLT adds 20 members as Supreme Court cracks down on IBC delays and timelines

With the Supreme Court sharply targeting procedural delays in IBC cases, attention is turning to how tribunals function in practice. NCLT is set to strengthen capacity with 20 new members across 16 benches, aiming to speed up case disposal and cut pendency. The push comes as stakeholders expect better timeline adherence and faster outcomes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Supreme Court clarifies insolvency law is not debt recovery and warns against misuse

Supreme Court clarifies insolvency law is not debt recovery and warns against misuse

The Supreme Court reiterated that India’s insolvency framework under the IBC is not meant for routine debt recovery. It cautioned that insolvency proceedings carry serious consequences and should be invoked only where there is genuine financial hardship, not as a convenient alternative to recover dues. The ruling is expected to shape how courts assess misuse of insolvency filings.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Centre issues MSME prepackaged insolvency framework but key thresholds still missing

Centre issues MSME prepackaged insolvency framework but key thresholds still missing

The Centre has notified a framework for prepackaged insolvency resolution for MSMEs under the Insolvency and Bankruptcy Code. However, it has not yet set or notified the threshold amounts needed to trigger prepackaged insolvency. The move provides a legal pathway, but businesses may still face uncertainty until the key thresholds are announced.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Govt mulls IBC operational overhaul as experts push AI and virtual creditor meetings

Govt mulls IBC operational overhaul as experts push AI and virtual creditor meetings

India’s government is considering operational changes to the Insolvency and Bankruptcy Code after an expert panel’s recommendations. The panel urges broader use of digital tools— including virtual meetings of the committee of creditors and deployment of AI—arguing they save time and can remain even once normal operations fully resume.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Stamp duty probe targets ArcelorMittal over alleged INR1300 crore loans for INR100

Stamp duty probe targets ArcelorMittal over alleged INR1300 crore loans for INR100

ArcelorMittal India is facing an enquiry after allegations of stamp duty irregularities linked to KSS Petron, a group company. Creditors claim stamp duty was wrongly handled during the assignment of loans ahead of KSS Petron’s acquisition of Essar Steel under the IBC. The matter is now under review, with scrutiny on how the duty was paid during the lead-up to the deal.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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