Baijayant Panda to head select House committee on IBC changes

Senior BJP leader Baijayant Panda has been appointed as the chairperson of a select Parliamentary committee that will vet the proposed amendments to the insolvency law.

The 24-member panel, appointed by Lok Sabha speaker Om Birla, will submit its recommendations with the government after comprehensive deliberations with various stakeholders. The government will then place before Parliament the final amendments to the Insolvency and Bankruptcy Code (IBC) for clearance, factoring in the panel’s suggestions.

The panel comprises members from various parties. It includes Supriya Sule, Karti Chidambaram, Shrikant Eknath Shinde and Mahua Moitra.


Finance and corporate affairs minister Nirmala Sitharaman had introduced the IBC Amendment Bill, 2025, in the Lok Sabha in August with an aim to expedite the resolution of stressed assets and bolster the overall insolvency ecosystem.

The Bill, which was then proposed to be referred to a select committee of Parliament, pitches for a framework for creditor-initiated resolution involving mostly out-of-court processes. It also proposed frameworks for cross-border insolvency and corporate group bankruptcy.

These were the first set of amendments to the IBC moved by the government since 2021.