Centre likely to introduce the IBC amendment bill in winter session

The changes will will make amends to the cross-border insolvency regime. Among other changes, the bill will make it easier for overseas creditors to participate in the legal proceedings in India

The government of India is working on amending the provisions under the Insolvency and Bankruptcy Code (IBC) to open up the distressed assets in India to overseas creditors to recover the dues. According to a report by Livemint, an amendment bill was to be introduced in the Monsoon Session of the Parliament. The government, however, decided to make further changes to the bill before introducing it in the winter session. 

The changes will make amends to the cross-border insolvency regime. Among other changes, the bill will make it easier for overseas creditors to participate in the legal proceedings in Indian