India’s IBC amendments: The revised framework will be an improvement on what we’ve had so far

It could have been left to qualified lenders to decide if a debtor is fit for CIIRP or not. For timeline clarity, the amended IBC will clearly identify an initial application—not, say, the last of many—as the starting point; this matters for defining the lookback period of a case, the span within which the debtor’s actions can be put to scrutiny.