The Insolvency and Bankruptcy Code (IBC) in India has undergone significant amendments to provide a clean slate for new investors in distressed companies. The amendments clarify that any claims against a company not recognized in an approved resolution plan will be extinguished, preventing creditors, including government agencies, from pursuing past dues after the corporate rescue plan is approved. This change is essential for attracting investments into distressed assets, as it offers certainty about the viability of reviving them. The clean-slate principle, effective from May 28, 2016, means that ongoing judicial proceedings related to unrecognized claims will become void, benefiting successful bidders. However, judgments already delivered by courts will still bind resolution applicants. Additional measures include allowing creditors to rectify defective resolution plans and requiring tribunals to document delays in decision-making. These amendments aim to streamline the debt resolution process and enhance investment opportunities.