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The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 represents the most significant overhaul of India’s insolvency framework since the original Code was enacted in 2016. Introduced by Finance Minister Nirmala Sitharaman in the Lok Sabha on August 12, 2025, this comprehensive reform aims to address procedural delays, reduce judicial discretion, enhance creditor rights, and introduce modern concepts like creditor-initiated resolution processes, group insolvency, and cross-border insolvency frameworks.
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The New Income Tax Act is set to replace the Income Tax Act of 1961, marking one of the most significant tax reforms in India’s history. This modernization aims to simplify compliance, reduce litigation, and make the tax system more transparent for all taxpayers.
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