The Impact of Insolvency and Bankruptcy Code 2016: A Comprehensive Study

Author(s)	Vayllan Victor De Souza, Rishikesh K B
Country	India
Abstract	Insolvency and bankruptcy have emerged as significant concerns in the global economy, impacting firms, economies, and individuals alike. Economic volatility, high corporate debt levels, industry disruptions, and inadequate financial management contribute to the escalation of insolvency risks. The COVID-19 epidemic has made these difficulties worse., leading to a surge in bankruptcy filings worldwide. In response to the need for efficient resolution mechanisms, India introduced Insolvency and Bankruptcy Code, 2016 (IBC), introduced for streamlining insolvency proceedings and protecting stakeholders' interests. While the IBC has achieved notable successes in resolving cases, challenges still must be addressed, including declining recovery rates and prolonged resolution times.
Keywords	Insolvency, Bankruptcy, Global Economy, Insolvency Risks, Economic Volatility, Insolvency and Bankruptcy Code (IBC), Stakeholders, COVID-19 Pandemic, Resolution Mechanisms.
Field	Business Administration
Published In	Volume 6, Issue 2, March-April 2024
Published On	2024-03-23
DOI	https://doi.org/10.36948/ijfmr.2024.v06i02.15195
Short DOI	https://doi.org/gtn32c

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