Insolvency and Bankruptcy Code

In the news

• IBBI lets creditors keep completed housing projects out of a builder's insolvency process 1 November 2026 · Indian Express

  Should a finished, occupied tower be dragged into insolvency because its builder's other projects failed?

• SC says ministry has 'hijacked' NCLT staffing, wants hiring power with tribunal President 30 October 2026 · Indian Express

  Can a tribunal that judges companies be independent if a ministry controls who works in its courtrooms?

• After a 99.97% haircut order, IBBI proposes safeguards in personal guarantor insolvency 15 September 2026 · Indian Express

  Claims of ₹22,006 crore settled for ₹6.5 crore. What stops a guarantor's friends from voting the deal through?

Key facts

• IBBI notified the CIRP (Fifth Amendment) Regulations, 2026 on 30 October 2026 for real estate insolvency. (1 November 2026)
• The committee of creditors can recommend excluding an individual real estate project from CIRP with at least 66% of the voting share; the NCLT decides. (1 November 2026)
• On 29 October 2026 the Supreme Court said NCLT staffing had been "completely hijacked" by the Ministry of Corporate Affairs and that appointment power should lie with the NCLT President. (30 October 2026)
• The NCLT and NCLAT Presidents must submit proposals on staffing and infrastructure within four weeks. (30 October 2026)
• The IBBI's discussion paper (comments until 3 October 2026) proposes four safeguards in the insolvency resolution process for personal guarantors to corporate debtors. (15 September 2026)
• Creditors who are related parties of the guarantor, as defined in Section 5(24A) of the IBC, would have a nil voting share on the repayment plan. (15 September 2026)

Previous-year questions

1. 2024 · GS2 · 10 marks Explain and distinguish between Lok Adalats and Arbitration Tribunals. Whether they entertain civil as well as criminal cases?
2. 2023 · GS2 · 10 marks "Constitutionally guaranteed judicial independence is a prerequisite of democracy". Comment.
3. 2018 · GS2 · 15 marks How far do you agree with the view that tribunals curtail the jurisdiction of ordinary courts? In view of the above, discuss the constitutional validity and competency of the tribunals in India.
4. 2016 · GS2 · 12.5 marks What is the quasi-judicial body? Explain with the help of concrete examples.
5. 2015 · GS2 · 12.5 marks In the light of the Satyam Scandal (2009), discuss the changes brought in corporate governance to ensure transparency and accountability.
6. 2013 · GS2 · 10 marks The product diversification of financial institutions and insurance companies, resulting in overlapping of products and services strengthens the case for the merger of the two regulatory agencies, namely SEBI and IRDA…
7. 2017 · Prelims Which of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news? (a) It is a procedure for considering ecological costs of…