Insolvency and Bankruptcy Code (IBC), 2016
The IBC, 2016, created a unified framework for resolving insolvency of companies, partnership firms, and individuals. It established the National Company Law Tribunal (NCLT) as the adjudicating authority and the Insolvency and Bankruptcy Board of India (IBBI) as the regulator. The Code introduced a strict timeline: 180 days for the Corporate Insolvency Resolution Process (CIRP), extendable by 90 days. The Committee of Creditors (CoC), comprising financial creditors, votes on resolution plans with a 66% majority threshold.
- Enacted: 2016, operational from December 2016
- Adjudicating authority: NCLT (National Company Law Tribunal)
- Regulator: IBBI (Insolvency and Bankruptcy Board of India)
- CIRP timeline: 180 days + 90 days extension (total 270 days)
- CoC voting threshold: 66% of financial creditors
- Total cases admitted to NCLT since inception: over 7,700
- Average recovery rate: approximately 32-36% of admitted claims
● Tracked since February 09, 2026 · last seen July 30, 2026 · updates as the daily brief publishes
General Studies
Insolvency and Bankruptcy Board of India (IBBI)
Economy
Goods and Services Tax (GST)
Polity & Governance
NCLT and NCLAT
Polity & Governance
Committee of Creditors (CoC)
Polity & Governance
Creditor-Initiated Insolvency Resolution Process (CIIRP)
Polity & Governance
National Company Law Tribunal (NCLT)
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