More than 4,000 corporate debtors have been rescued through resolution, settlements, withdrawals or appeal-related closures, he said at a workshop on the Insolvency and Bankruptcy (Amendment) Act, 2026, here.
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The workshop was organised with the objective of deliberating upon the impact of the recent amendments to the Insolvency and Bankruptcy Code (IBC) on the banking sector and strengthening stakeholder understanding regarding implementation of the amended provisions of the Code, the finance ministry said in a statement.
Addressing the workshop, Nagaraju highlighted the role played by the IBC in establishing a time-bound and creditor-driven insolvency resolution framework in the country.
He stated that the Code has strengthened repayment discipline and shifted the focus from liquidation towards revival and value maximisation of stressed businesses.
On the recent amendments relating to group insolvency, cross-border insolvency and creditor-initiated insolvency resolution process, he emphasised that these reforms would further strengthen the insolvency framework and address delays in resolution.Speaking at the workshop, Insolvency and Bankruptcy Board of India (IBBI) chairperson Ravi Mital emphasised the role of the IBC in strengthening institutional capacity, fostering creditor confidence and promoting transparency in insolvency resolution processes.
Mittal noted that the recent amendments would improve coordination among stakeholders and ensure that the insolvency resolution framework remains efficient, fair and future-ready.
The workshop, which featured presentations by MCA and IBBI on the recent amendments and their implications for the Committee of Creditors (CoC) and other stakeholders, was attended by senior officials from the Ministry of Corporate Affairs (MCA), IBBI, leading legal experts, senior executives from public sector banks and other financial institutions.
The discussions facilitated greater clarity on legal and operational aspects relating to the implementation of the amended provisions of the Code, it said.
Delivering closing remarks, Department of Financial Services Special Secretary Sanjay Lohiya acknowledged the important role played by the IBC in accelerating resolution processes, improving recoveries and maximising asset value.
He also highlighted the need for continued efforts to address delays, capacity constraints and prolonged litigations, while noting that the IBC has contributed significantly towards improving the ease of doing business in India.