Author: nikitaa251

Introduction The Insolvency and Bankruptcy Code of 2016 (hereinafter referred to as “IBC”) has transformed the insolvency resolution process in India by changing the approach in handling financial corporate distress. J. Nariman aptly described IBC as the “defaulter’s paradise lost,” underlining its utility in rescuing defaulters through resolution plans and, if that fails, by closing the company to liquidate its assets. The main objective of IBC is to maximize asset value and ensure the timely resolution of insolvencies. This blog aims to identify the challenges and bottlenecks hindering the existing insolvency procedure. It will also suggest reforms to enhance the…