New Delhi, Oct. 2 -- Lok Sabha Speaker Om Birla has constituted a 24-member Select Committee to examine the proposed amendments to the Insolvency and Bankruptcy Code Bill 2025. BJP lawmaker Baijayant Jay Panda has been appointed as the chairman of the panel. The bill, introduced in Lok Sabha on August 12, 2025, amends the current law which was passed by Parliament in 2016. According to the PRS Legislative Research, "The Code provides for a corporate insolvency resolution process (CIRP). CIRP may be initiated by a corporate debtor or its creditors. A committee of creditors (CoC) is constituted to decide on the resolution. During this process, management of the company shifts to the hands of the CoC. The CoC appoints a Resolution Professional...