A Practical Perspective on India’s Evolving Insolvency Framework
Introduction
The Insolvency and Bankruptcy Code, 2016 (IBC) is widely regarded as one of India’s most significant economic and legal reforms. Before its introduction, recovery and insolvency matters were governed by different laws and forums, often resulting in prolonged litigation, uncertainty and erosion of asset value. The IBC brought these fragmented mechanisms under one comprehensive framework with the objective of resolving financial distress in a transparent, time-bound and commercially viable manner.
Nearly a decade after its implementation, the Code has become an integral part of India’s financial and corporate ecosystem. It has influenced…