India proposes bankruptcy law overhaul

India is proposing significant changes to its bankruptcy law aimed at accelerating insolvency resolutions and improving the ease of doing business. Key proposals include allowing financial creditors to directly trigger insolvency proceedings, bypassing the need for tribunal approval in certain cases. Additionally, the reforms aim to tighten existing deadlines within the resolution process. These measures are intended to create a more efficient and predictable framework for dealing with corporate distress. The proposed overhaul reflects the government's commitment to strengthening the financial sector and attracting investment.