Bharatiya Janata Party MP Baijayant Panda has been appointed as the Chairperson of the Select Committee of Lok Sabha on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025.
A bill that introduces a "creditor-initiated insolvency resolution process" with an out-of-court initiation mechanism for genuine business failures to facilitate faster and more cost-effective insolvency resolution was introduced in Lok Sabha on Tuesday.