• The Union Cabinet has approved certain amendments to the Insolvency and Bankruptcy Code (IBC) during its meeting.
• Aim: To help investment in troubled sectors, protect corporate debtors, and to prevent ill-thought-out triggering of bankruptcy proceedings.

Significance of the Changes:

• There have been instances of enforcement agencies taking action against companies whose resolution process has already been completed.
• The government had received several representations from companies such as JSW Steel and Tata Steel on issues that cropped up after the closure of the IBC process.