Yearly Rewind: Insolvency

INSOLVENCY AND RESTRUCTURING

In this section, we detail the path that the Code has taken in terms of its evolution and emerging jurisprudence; the continual improvements during the past one-year, key judgments and amendments, the impact that the law has had on stakeholders, and lastly, what lies ahead (hopefully).

The number game – how the Code fared in 2023

While the overarching objective of the Code, as articulated in its preamble, is the timely reorganization and resolution of corporate insolvency, aiming to maximize asset value, the quarterly newsletters from the Insolvency and Bankruptcy Board of India (IBBI) for July-September 2023 (read the report here) paints an interesting picture.