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Understanding the IBC

Understanding the IBCKEY JURISPRUDENCE AND PRACTICAL CONSIDERATIONSA HANDBOOK Simone D. McCourtie / World Bank Ray Witlin / World BankCover photos: Understanding the IBCKEY JURISPRUDENCE AND PRACTICAL CONSIDERATIONSA HANDBOOKKEY JURISPRUDENCE AND PRACTICAL CONSIDERATIONS3 The insolvency space is extremely fertile, especially in a market economy. It acquires richness, depth and maturity with every transaction. The insolvency regime in India is no exception. The Insolvency and Bankruptcy Code, 2016 (Code) has witnessed five legislative interventions since its enactment to strengthen the processes and further its objectives, in sync with the emerging market realities.

and Enforcement of Security Interest Act, 2002, to give effect to the newly codified legislation. The provisions of the Code are being brought into force in phases. It bears emphasis that the institutional framework established by the state should foster the freedom of entry for a commercial entity (that is, the freedom to start a

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