Examining the Efficacy of the Insolvency and Bankruptcy Code: A Performance Analysis
DOI:
https://doi.org/10.33516/maj.v59i4.37-40pKeywords:
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The Insolvency and Bankruptcy Code, 2016 (IBC) is a comprehensive Indian law aimed at consolidating insolvency resolution regulations across various entities including individuals, limited liability partnerships, and corporates. Its enactment has yielded favourable outcomes such as enhancing Non-performing assets recovery rates and improving the ranking in resolving insolvency cases. However, significant concerns persist, including delays in proceedings, absence of clear regulations for cross-border insolvency, and a shortage of tribunals. Addressing these issues is imperative for the effective functioning of the IBC.
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