Parliament will function until April 2; Lok Sabha starts debate on amendments to insolvency & bankruptcy law

Parliamentary Affairs Minister Kiren Rijiju on Wednesday (March 25, 2026) informed the Lok Sabha that the second part of the Budget session would continue as per schedule, and the government would take up its business on Friday (March 27) instead of private members’ business. The second half of Friday is typically reserved for private members’ business.

Mr. Rijiju said that though there was a proposal to hold sittings during the weekend, Parliament will not function on Saturday (March 28) and Sunday (March 29). March 31 will be a holiday because of Mahavir Jayanti.

Also Read: Parliament Budget Session LIVE Updates on March 25, 2026

“On the rest of the days, the House will function as proposed,” he said, indicating that Parliament would function until April 2. The Business Advisory Committee has already allocated seven hours of debate for the Central Armed Police Forces (General Administration) Bill, 2026.

The announcement came amid reports that Parliament may adjourn early in view of the ensuing Assembly elections in four States and one Union Territory.

Mr. Rijiju made the announcement while the House was debating the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. Participating in it, BJP MP Anurag Thakur said the Insolvency Code led to the recovery of over ₹4 lakh crore in the past decade through the resolution of bankrupt companies.

He said the IBC, enacted in 2016, has achieved 50% recovery as against 20% under the SARFAESI Act, 2002 [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest] and 10% under the Debts Recovery Tribunals, Mr. Thakur said.

“This indicates the greater efficiency of the IBC,” he noted, adding that it has changed the debtor-creditor relationship, with companies and promoters now afraid of getting into insolvency.

Citing instances, he said, about 32,000 applications have been withdrawn, and the underlying debt of more than ₹14.5 lakh crore has been settled.

On August 12, 2025, the government introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a raft of changes, including provisions to reduce delays in admission of insolvency resolution applications.

The Bill was referred to a select committee, which submitted its report in December, 2025.

The Code has so far undergone six legislative interventions, with the last amendment in 2021. The amendment proposed aims to expedite clearance of IBC cases, and out-of-court resolution, deal with cross-border insolvency and streamline discretionary provisions, Mr. Thakur said.