Insolvency and Bankruptcy Code (IBC), 2016
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Legislative action — a bill, act, or amendment that creates or modifies the legal framework. Carries binding force and shapes the rules under which citizens, institutions, and markets operate.
Summary
Unified insolvency resolution framework replacing multiple overlapping laws. Established NCLT as adjudicating authority with time-bound resolution (180+90 days) for corporate insolvency, improving India's ease of doing business.
Key Facts
Type Legislation
Source Historical Record
Published Saturday, 28 May 2016
Affected Population 1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
20 million central + state government employees
Key Authorities
Key Stakeholders
Government Context
NDA I BJP-led NDA
Left Centre Right
Amendment History
8 changes recorded for this policy.
Description Wednesday, 1 April 2026 via the_hindu_policy
The Finance Minister said the Government accepted 11 recommendations of the Select Committee headed by BJP MP Baijayant Panda and one amendment was brought by the Government
Description Wednesday, 13 May 2026 via barandbench
The Centre for LexTax and IBC (CLTIBC) at Maharashtra National Law University (MNLU) Mumbai has announced the launch of its Certificate Course / Value Added Course on the Insolvency and Bankruptcy Code, 2016. About the CourseThe Insolvency and Bankruptcy Code, 2016 has fundamentally reshaped the landscape of commercial law in India, and continues to evolve through judicial interpretation and legislative reform. Despite its significance, the Code remains one of the more challenging areas for stud
Description Friday, 15 May 2026 via barandbench
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has received Presidential assent as the Insolvency and Bankruptcy Code (Amendment) Act, 2026 (the “Act”) and will come into force on notification by the Central government. It makes significant changes to the Insolvency and Bankruptcy Code, 2016, codifying, qualifying, and materially reshaping insolvency practice in India.Initiation of Corporate Insolvency Resolution ProcessThe Act removes the discretion previously read into Section 7 and
Description Friday, 29 May 2026 via pib
Government of India press release: Insolvency and Bankruptcy Code (IBC) completes 10 years
Description Friday, 29 May 2026 via state_pib_karnataka
Government of India press release: Insolvency and Bankruptcy Code (IBC) completes 10 years
Description Friday, 29 May 2026 via pib
Government of India press release: Insolvency and Bankruptcy Code (IBC) completes 10 years
Description Friday, 29 May 2026 via state_pib_karnataka
Government of India press release: Insolvency and Bankruptcy Code (IBC) completes 10 years
Description Friday, 29 May 2026 via mint_opinion
Before the IBC, creditors had no choice but to chase resolution through a web of laws and frameworks while asset value deteriorated to nil. Ten years on, the situation has changed dramatically.