Govt Plans Changes to Bankruptcy Code Amidst Money-Laundering Issues

The Indian government is changing the rules for dealing with companies that can't pay their debts.

They're adjusting the Insolvency and Bankruptcy Code (IBC) to make sure it works well with the rules against money laundering (PMLA).

Sometimes, courts have disagreed on how these rules should work together, especially when it comes to protecting a company's assets.

The government wants to clear things up to make sure the laws are consistent.

They're working on these changes now, and they might introduce a new law to Parliament soon.