INSOLVENCY AND BANKRUPTCY CODE, 2016

Context: Indian banking industry has a large number of loans outstanding that have simply gone wrong. Non-Performing Loans (NPL) are estimated at just over INR 6.3 trillion. In this context, the new Insolvency and Bankruptcy Code passed by Parliament earlier this year, promises to address the structural problems hampering the efficient recycling of capital and rebalance the rights of creditors, giving them much needed recourse to take timely and effective action against defaulting borrowers.
Basic terms

What is the Objective of this code?

What are the salient features of the code?

 What is the significance of this code? The code if implemented properly as various benefits:

What is the progress report on implementation of this code?

Critics of New Code

 

Write Your Review