At the 9th Annual Day of the Insolvency and Bankruptcy Board of India (IBBI) held on 1st October 2025 at the Pradhanmantri Sangrahalaya, New Delhi, Shri Ravi Mittal, Chairperson, IBBI, delivered a compelling address reflecting on India’s remarkable insolvency reform journey and the road ahead.
Highlighting the achievements under the Code—from over 8,600 CIRPs initiated to over ₹3.96 lakh crore realized by creditors and the systemic shift from “debtor in possession” to “creditor in control”, the address underscored IBC’s transformative role in strengthening financial discipline, corporate accountability, and economic confidence.
Shri Mittal also outlined the upcoming Insolvency and Bankruptcy Code (Amendment) Bill, 2025, which marks the next chapter of IBC 2.0, focusing on:
Swifter admissions and time-bound resolutions
Creditor-led mechanisms and partial plan approvals
Group insolvency and cross-border coordination
Stronger avoidance transaction provisions and faster liquidations
The speech reaffirmed that speed, value, and trust will continue to anchor India’s insolvency ecosystem, empowering businesses to revive, capital to recycle, and markets to remain fair and efficient.
Read the full address by Shri Ravi Mittal, Chairperson, IBBI, delivered at the IBBI Annual Day 2025.
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