Author: Pulkit Gour, LL.M (Corporate and Commercial Laws), Manipal University, Jaipur
ABSTRACT
This research article aims to examine the impact of the Insolvency and Bankruptcy Code (IBC) on corporate restructuring in India. The IBC was introduced in 2016 as a comprehensive legislation to resolve insolvency issues and facilitate the recovery of debts owed by companies. This study employs a mixed-methods approach to analyse the impact of the IBC on corporate restructuring in India. The study utilizes qualitative data from in-depth interviews with key stakeholders, including insolvency professionals, lawyers, and corporate executives, along with quantitative data on insolvency cases resolved under the IBC. The findings suggest that the IBC has revolutionized the corporate restructuring landscape in India by providing a robust legal framework for resolving insolvency issues, enhancing creditor rights, and improving the efficiency of the bankruptcy process. The IBC has also led to a significant reduction in the time taken to resolve insolvency cases, increased recovery rates, and facilitated the rescue of viable companies. The study concludes that the IBC has had a positive impact on corporate restructuring in India, and there is a need to further strengthen the legal framework to address the challenges faced by the insolvency resolution process.
Keywords: Insolvency, Bankruptcy, Corporate Restructuring, Insolvency and Bankruptcy Code, Creditor Rights, Legal Framework, Recovery Rates.
