Analysing 2018 Through The Lens Of The Insolvency Code

I. Introduction

With almost two years since the introduction of the Insolvency and Bankruptcy Code, 2016 ("IBC" and "Code"), there have been various challenges in the effective implementation of the Code. However, constructive interpretation by the judiciary coupled with effective amendments to the Code have helped in eliminating many of these teething issues. The Insolvency and Bankruptcy Board of India ("IBBI") which is the regulatory and supervisory body in charge of the IBC, has done a commendable job in proactively spreading awareness and regulating the space. Many important judgments were pronounced throughout the year, including certain landmark cases, where the Supreme Court has tried to ensure that the spirit of the Code is given primacy over procedural requirements. With multiple assets on sale, strategic investors have been first off the mark, with billion dollar conglomerates trying to outbid each other and add coveted companies to their inventories. The