The Insolvency and Bankruptcy Code (IBC) is a legal framework in India that consolidates and amends the laws relating to insolvency and bankruptcy of companies, individuals, and partnerships. It provides a time-bound process for resolving insolvency, which is aimed at maximizing the value of the assets of the insolvent entity and balancing the interests of all stakeholders. Visit here:- https://www.ancoraa.com/blog/insolvency-and-bankruptcy-code

2. Overview
• It consolidates all the present laws about Insolvency and Bankruptcy
Code.
• It was implemented for bringing standardisation to India’s bankruptcy
laws.
• The provisions of the Act apply to the following:
• Company
• Limited Liability Partnership
• Partnership Firms
• Corporate Persons
• Individuals

3. Objectives of the IBC
 IBC provides a justified balance between
 The loss that a creditor may face because of default
 The stakeholders’ interest for them to get improved liquidity.
 The first objective is on-time resolution.
 Second objective is increasing the asset value of the Corporate Debtor.
 Third objective is promoting entrepreneurship, credit availability and
balance of interests.
What is The Insolvency and Bankruptcy Code?

4. Pillars of IBC
 Insolvency Professionals (IPs).
 Information Utilities (IUs).
 Adjudicating Authorities (AAs).
 Insolvency and Bankruptcy Board of India (IBBI).
What is The Insolvency and Bankruptcy Code?

5. Origins of IBC
 IBC came after repealing SICA 1985 from December 2016.
 SICA failed because of the moratorium protection and lack of a time-
bound resolution process.
What is The Insolvency and Bankruptcy Code?

6. Phases under IBC
 In the First Phase, resolving the default of the CD through CIRP can be
attempted.
 If no plan has been approved, CD liquidation takes place.
What is The Insolvency and Bankruptcy Code?

7. Benefits of IBC
 On-time Insolvency Resolution.
 Certainty and Clean Company.
 Preventing the Frauds by Debtors.
What is The Insolvency and Bankruptcy Code?

8. Thank You
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