Insolvency and Bankruptcy Code is likely to see some amendments in the Budget 2022 session, towards strengthening the law further. The code could see introduction of much-needed cross-border insolvency framework in line with the model UN law. If passed, this would help in inclusion of offshore assets of corporate debtors in recovery process. Add to this, a potential code of conduct for committee of creditors of debtors is also in the pipeline after IBC processes were criticised for allowing large haircuts for banks in the past. The amendment is also expected to include more steps for speedy resolution processes with additional deadlines for insolvency courts.