New Delhi, Aug. 12 -- 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.

Finance Minister Nirmala Sitharaman introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025' amid uproar by opposition members over their demand for debate on Special Intensive Revision of electoral rolls in Bihar.

Sitharaman proposed sending the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 to a Select Committee. The motion was approved by the House.

According to the statement of Objects and Reasons of the bill, the proposed amendments aim to...