Six years of IBC 2016

In a major economic reform, the Parliament of India enacted The Insolvency and Bankruptcy Code, 2016 (IBC) in May 2016 to provide for insolvency resolution of distressed entities in a time bound manner for maximisation of value of assets of such entities and to balance the interests of all stakeholders. The IBC was enacted to ensure a cultural transformation in the existing insolvency and bankruptcy landscape. It established a new architecture for insolvency resolution and liquidation of unviable entities.