Sector OverviewThe Insolvency and Bankruptcy Code (IBC) is one of the landmark reforms in India. It has aggregated many laws and regulations on bankruptcy in India and has helped in significant improvement in India’s position in the World Bank’s Ease of Doing Business Index. More importantly, the enactment of this law has brought about reformative transformation in the credit behaviour of borrowers by underscoring that honouring commitments to pay is the most crucial part of conducting business.
Strengthening of the new insolvency regime is an on-going process, which can be facilitated through consultation and discussions. Against this backdrop, FICCI has constituted a dedicated Committee on Stressed Assets.