Insolvency and Bankruptcy Code (IBC)

Insolvency and Bankruptcy Code (IBC) Definition: The Insolvency and Bankruptcy Code (IBC), 2016, is the bankruptcy law of India that consolidates the existing framework by creating a single law for insolvency and bankruptcy.

Why it matters in Debt Collection

• Crucial for high-ticket Corporate Receivable Management.
• Allows operational and financial creditors to trigger the Corporate Insolvency Resolution Process (CIRP).
• Ensures a time-bound resolution mechanism, radically shifting the balance of power back to the creditor.