India’s Insolvency and Bankruptcy Code (IBC), 2016 was introduced as a transformative reform to resolve corporate distress in a time-bound, efficient, and value-maximising manner. While the law itself remains structurally sound, the institutional framework supporting it is under severe stress. Growing delays, capacity constraints, and jurisdictional overload have triggered a renewed policy debate: Does India need a National Insolvency Tribunal (NIT)?
This article analyses why the creation of a dedicated National Insolvency Tribunal is no longer optional but essential for preserving the credibility and effectiveness of India’s insolvency regime.
Understanding India’s Insolvency Framework
The Insolvency and Bankruptcy Code, 2016…