The Indian economy has been plagued with bad debts for many years. The Insolvency and Bankruptcy Code, 2016 (“ Code ”) is one of the most landmark reforms introduced by the Modi Government as a respite to the frailing economy. The Code remains under constant scrutiny and progress and has witnessed several amendments over the last two years. One of the most iconic amendments to the Code is the Insolvency and Bankruptcy (Amendment) Act, 2018 (“ Amendment Act ”) which was enacted with the primary objective of streamlining the corporate insolvency resolution process prescribed under the Code. In this paper, the author has made an attempt to shed some light on the key changes introduced by the Amendment Act and critically analyze their impact on the ever-evolving Indian insolvency and bankruptcy regime.
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