The Insolvency and Bankruptcy Code And It�s Working

Ancoraa Resolution16 Feb, 2023Finance

The Insolvency and Bankruptcy Code was developed as there was a need for a time-limited procedure for dealing with stressed assets. The bill was proposed by the NDA Government in 2015, and after receiving the President of India?s approval in May 2016. It was enacted as an Act. Before the IBC, the average duration to resolution was around four years.