Published Paper Details:

Research work studies Insolvency and Bankruptcy Code, 2016 in India which studies laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets. The research focuses on the recent amendments made to Insolvency and Bankruptcy Code, 2016 which have significantly boost the framework of insolvency resolution. It helps us to understand the amendments aim to fill critical gaps in the corporate insolvency resolution framework as enshrined in the Code, while simultaneously maximizing value from the Corporate Insolvency Resolution Process (CIRP). It helps us to study changes to the Code are being considered in relation to the admission of corporate insolvency resolution process ("CIRP") are PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS (PIRP), streamlining the insolvency resolution process and recasting the liquidation process under the Code. This research helps to understand widespread economic hardship brought on by the COVID 19. It provides insights of The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, Insolvency and Bankruptcy Code (Amendment) Bill 2019 and The Insolvency and Bankruptcy Code (Amendment) Bill, 2021. The research throws a light on the recent judgements of Supreme Court to understand that these recent landmark judgements of IBC have played pivotal role in providing a fast track process in solving the IBC cases which would ensure that the resolution process would completed on time and that a corporate debtor may be revived. The research work critically analysis on Insolvency & Bankruptcy Code (Second Amendment) Act 2020 and the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023 as these amendments would be a game changer in facilitating the smooth functioning of the corporate insolvency resolution process and would narrow balance between the purpose of IBC and ground realities.