New Delhi, March 23: Finance Minister Nirmala Sitharaman will present the Finance Bill for 2026-27 and the Corporate Law Amendment Bill in Parliament today.
The Finance Bill aims to implement the financial proposals of the central government for the fiscal year 2026-2027. The Finance Minister will initiate discussions on the bill and strive for its passage.
This step is crucial for executing the government’s budgetary plans and economic policies for the upcoming year.
According to the parliamentary agenda, the Finance Minister will also introduce a bill to amend key corporate laws in the Lok Sabha.
The proposed Corporate Law (Amendment) Bill, 2026 includes amendments to the Limited Liability Partnership Act, 2008, and the Companies Act, 2013.
The Companies Act governs incorporation, corporate governance, disclosure, and dissolution, while the LLP Act provides a more flexible framework with limited liability for partners.
Additionally, the central cabinet approved amendments to the Insolvency and Bankruptcy Code on March 10, paving the way for the introduction of the IBC amendment bill in the current parliamentary session.
The proposed legislative amendments are based on recommendations from a special parliamentary committee led by BJP MP Baijayant Panda. The committee was tasked with reviewing the existing insolvency framework. After completing its review, the committee submitted a comprehensive report in December 2025, emphasizing the need to expedite the corporate resolution process.
To address the delays in the current system, the parliamentary committee recommended strict timelines for resolving insolvency cases. Along with these timelines, the committee suggested granting additional powers to the Committee of Creditors (CoC) to facilitate quicker and more decisive resolutions for creditors.
Furthermore, the proposed amendments aim to rectify existing shortcomings in the current code by introducing two major structural frameworks. Firstly, the selection committee proposed a dedicated mechanism for cross-border insolvency to better manage distressed companies with international assets and foreign creditors.
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My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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