India’s Insolvency and Bankruptcy Code (IBC) has emerged as a game-changer for ailing corporations, dramatically improving resolution speeds and asset recoveries, according to PHDCCI Vice President Sanjay Singhalia. At a key industry forum, he detailed the code’s transformative role in overhauling the insolvency process.
Gone are the days when bankrupt firms faced protracted proceedings that diminished their asset values. IBC’s emphasis on time-bound resolutions, better lending practices, and investor reassurance has injected new life into distressed assets. Singhalia called for even faster processes, greater flexibility, and stronger business revival mechanisms.
The event spotlighted the Insolvency and Bankruptcy Code (Amendment) Act, 2026, fostering dialogue among regulators, lawyers, resolution professionals, and business heads on India’s advancing insolvency ecosystem.
Delivering a historical overview, ex-NCLAT judicial member Justice Rakesh Kumar Jain described the shift to an integrated, creditor-led model. He explained that the new amendments target shorter timelines to build greater confidence among lenders.
NCLT’s Justice Ashok Kumar Bhardwaj advocated for adaptive insolvency frameworks attuned to dynamic economies, reminding attendees that IBC prioritizes value maximization through viable resolutions rather than liquidation.
National E-Governance Services Limited’s leader Debjyoti Ray Chaudhary emphasized information utilities’ contribution to transparency via reliable default data, which expedites processes and supports SMEs significantly.
This evolving IBC framework underscores India’s commitment to a robust bankruptcy regime, fostering entrepreneurship and economic vitality amid global challenges.
