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VOL. 8, ISSUE 3 (2026)
The Insolvency and Bankruptcy Code, 2016: A uniform and comprehensive legislation covering corporates, partnerships, and individuals
Authors
Dr. Saheblal Paswan
Abstract
The Insolvency and Bankruptcy Code, 2016 is
one of the biggest economic reforms which provides a uniform and comprehensive
insolvency legislation covering corporates, partnerships and individuals (other
than financial firms). The Code gives both the creditors and debtors the power
to initiate proceeding. It has helped India achieve a historic jump in the ease
of doing business rankings by consolidating the law and providing for
resolution of insolvencies in a time-bound manner. To ensure that the
insolvency resolution is commercially viable, the Code separates the commercial
aspects from the judicial aspects and thus limits the role of adjudicating
authorities to ensuring due process rather than adjudicating on the merits of
the insolvency resolution.
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Pages:13-17
How to cite this article:
Dr. Saheblal Paswan "The Insolvency and Bankruptcy Code, 2016: A uniform and comprehensive legislation covering corporates, partnerships, and individuals". International Journal of Management and Economics, Vol 8, Issue 3, 2026, Pages 13-17
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