In Depth - Insolvency and Bankruptcy Code Act

The Narendra Modi government introduced the Insolvency and Bankruptcy Code in 2016 to resolve claims involving insolvent companies...This code was intended to tackle the bad loan problems that were affecting the banking system. Two years on...the IBC has succeeded in a large measure in preventing corporates from defaulting on their loans. According to Finance Minister Arun Jaitley ... the IBC process has changed the debtor - creditor relationship. A number of major cases have been resolved in two years, while some others are in advanced stages of resolution. Today in IN DEPTH, we trace the journey of the IBC, and how it has turned out to be a major economic reform... by helping to contain the rising NPA problem Anchor - Teena Jha