In 2016, the Insolvency and Bankruptcy Code, 2026 (IBC) was introduced as a transformative piece of legislation aimed at resolving corporate distress in a time-bound and efficient manner. It was a bold and visionary move by the Narendra Modi government, with the late Arun Jaitley playing a pivotal role in its implementation. The IBC promised to consolidate fragmented insolvency laws, empower creditors and restore confidence in India’s financial system. Nearly a decade later, the IBC stands at a crossroads. The proposed Insolvency & Bankruptcy Code (Amendment) Bill, 2025 (IBC Amendment Bill 2025) seeks to refine the framework, but apparently, it may do more harm than good. This article offers a comprehensive analysis of the IBC Amendment Bill 2025, examining its impact on the independ

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