India’s Insolvency and Bankruptcy Code (IBC) has emerged as a game-changer, dramatically improving outcomes for bankrupt companies by speeding up resolutions and preserving asset values. This was the key takeaway from PHDCCI Vice President Sanjay Singhalia’s address at a recent chamber event in New Delhi.
Singhalia pointed out stark contrasts with pre-IBC eras, where protracted insolvency processes led to massive asset devaluation. Today, IBC enforces faster turnarounds, better lending practices, and investor reassurance. He called for even quicker resolutions, greater flexibility, value protection, and stronger business revival mechanisms.
The forum delved deeply into the Insolvency and Bankruptcy Code (Amendment) Act, 2026, uniting a diverse panel of experts. Justice Rakesh Kumar Jain, ex-NCLAT judicial member, traced the shift to an integrated, creditor-led model, noting the amendments’ focus on time reduction and confidence-building.
NCLT’s Justice Ashok Kumar Bhardwaj advocated for adaptive insolvency laws attuned to dynamic economies, reiterating IBC’s emphasis on resolution over recovery alone. Meanwhile, NESL’s Debjyoti Ray Chaudhary highlighted how information utilities deliver transparent default data, streamlining processes especially for smaller enterprises like MSMEs.
These developments underscore IBC’s maturing impact, turning potential corporate casualties into revival success stories and signaling robust progress in India’s bankruptcy ecosystem.
