Insolvency and Bankruptcy Code (India)

The Insolvency and Bankruptcy Code (IBC) of India is a law designed to resolve situations where individuals or companies cannot pay their debts. It provides a structured process to assess financial distress, facilitate rehabilitation or liquidation, and maximize asset value for creditors. The IBC aims to promote a transparent, time-bound, and efficient resolution mechanism, helping distressed entities recover or settle debts fairly while protecting creditors’ interests. Overall, it’s a comprehensive legal framework to address insolvency issues systematically, encouraging responsible financial behavior and maintaining economic stability.