Insolvency and Bankruptcy Code (IBC)
Insolvency and Bankruptcy Code (IBC) The Insolvency and Bankruptcy Code (IBC) was introduced to overhaul the corporate distress resolution regime in India and consolidate existing laws to create a time-bound mechanism for debt resolution. Insolvency and Bankruptcy Code (IBC) works with a creditor-in-control model as opposed to the debtor-in-possession system. The creditor-in-control model provides control …