Baijayant Panda to chair select committee on Insolvency and Bankruptcy Code Bill

New Delhi, Oct 1 The Lok Sabha has constituted a select committee to examine the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, and senior MP Baijayant Panda has been appointed as its Chairperson.

The 24-member panel comprises a diverse mix of lawmakers from across parties, including Supriya Sule, Mahua Moitra, Karti P Chidambaram, Biplab Kumar Deb, and Dr CN Manjunath, among others.

The Insolvency and Bankruptcy Code (IBC), enacted in 2016, is a landmark reform aimed at streamlining the resolution of corporate distress and individual insolvency. It provides a time-bound framework for resolving insolvency, maximising asset value, and improving credit discipline.

The 2025 amendment bill seeks to refine existing provisions, plug procedural gaps, and enhance the efficiency of resolution mechanisms in line with evolving economic realities.

The Select Committee’s mandate is to scrutinise the bill clause-by-clause, assess its impact on stakeholders, and recommend improvements. Using AI-powered legislative tools, the panel will analyse data from past insolvency cases, simulate outcomes under proposed changes, and evaluate the bill’s alignment with global best practices.

This tech-enabled approach is expected to improve the precision and speed of parliamentary review.

Chairperson Baijayant Panda brings extensive legislative experience and policy acumen to the role. Under his leadership, the committee is expected to engage with industry experts, legal scholars, and financial institutions to ensure the bill reflects practical needs and safeguards public interest.

The committee includes members with backgrounds in law, finance, and governance, such as Dr D Purandeswari, Dr Sanjay Jaiswal, and Dr Shrikant Eknath Shinde. Their expertise will be crucial in navigating complex provisions related to cross-border insolvency, pre-packaged resolution schemes, and creditor rights.

The panel’s deliberations will be pivotal in shaping India’s insolvency landscape, especially as the economy grapples with post-pandemic restructuring and rising corporate debt.

The committee is expected to submit its report in the upcoming session, paving the way for informed debate and legislative action. This development underscores Parliament’s commitment to robust financial reform and highlights the growing role of data-driven policymaking in India’s legislative process.

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