What is The Insolvency and Bankruptcy Code (IBC) ? Resolution of distressed assets depends on a structure for insolvency resolution that is effective. India made a significant advancement in this area in 2016 with the adoption of the Insolvency and Bankruptcy Code, 2016, a strong, contemporary, and complex insolvency framework. The IBC is the first comprehensive law in the country to address both corporate and individual insolvency. Before the Insolvency and Bankruptcy Code, 2016, the legislative framework in India that dealt with the insolvency and restructuring procedures of corporate organisations, partnership businesses, and individuals was exceedingly complex and fragmented across…