Synopsis
This May, the Insolvency and Bankruptcy Code (IBC) completed five years since it was passed by Parliament. It was a law envisaged to give a quicker, time-bound alternative for recovery of bad loans for banks.
Agencies
This May, the Insolvency and Bankruptcy Code (IBC) completed five years since it was passed by Parliament. It was a law envisaged to give a quicker, time-bound alternative for recovery of bad loans for banks. Since its implementation, it has no doubt given an effective tool to recover loans but has not been able to live up to the expectations of a time-bound recovery. Following are the key numbers from the IBC journey so far.