India, Nov. 7 -- Chartered accountants' apex body ICAI on Thursday made its submissions to a Parliamentary panel on the proposed amendments to the insolvency law. The Select Committee, headed by BJP member Baijayant Panda, is examining the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, which was introduced in the Lok Sabha on August 12. A source said the Institute of Chartered Accountants of India (ICAI) made its submissions to the select committee on the amendments that are aimed at further improving the processes under the Insolvency and Bankruptcy Code (IBC).

Around 60 Per cent of the insolvency professionals are chartered accountants. There are over 4,560 insolvency professionals registered with the Insolvency and Bankruptcy ...