Q. Insolvency and Bankruptcy Code (IBC) has become a major savior for the banking sector. In this light discuss the impact of new Code on loan recovery and also suggest remedial measures for better implementation of the Code.

Structure of the answer: Background Introduction (about IBC) Positive impact of IBC Lacunas Suggestion and way forward Model Answer Before the passing of IBC it took an average of 4.3 years to resolve insolvency and recovery rate was 25.9% as compared to developed countries where recovery rate was 72%. The salient features are: Consolidation of various laws on insolvency. TheContinue reading “Q. Insolvency and Bankruptcy Code (IBC) has become a major savior for the banking sector. In this light discuss the impact of new Code on loan recovery and also suggest remedial measures for better implementation of the Code.”