New Delhi, Aug. 11 -- The Indian government is preparing amendments to the Insolvency and Bankruptcy Code (IBC) to streamline its interplay with the Prevention of Money Laundering Act (PMLA) after asset attachments by the Enforcement Directorate (ED) highlighted conflicts between the statutes, two people informed about discussions in the government said.

Close to a dozen court orders with conflicting interpretations of the immunity from prosecution and asset protection granted under IBC to an unrelated new management of the bankrupt company necessitated these legislative amendments, they added. The idea is to ensure that the two laws work cohesively, they said, adding discussions are underway at the highest levels of government about the...