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IBC

Insolvency and Bankruptcy Code processes and case references.

Articles

Insolvency and Bankruptcy Code: What Happens When a Corporate Borrower Goes to NCLT

The IBC created a time-bound process for resolving corporate insolvency. Here is what the Corporate Insolvency Resolution Process actually involves.

23 Jun 2026 · 2 min read

Frequently Asked Questions

The Committee of Creditors (CoC), made up primarily of financial creditors, votes on resolution plans; an approved plan then needs to be sanctioned by the NCLT to take legal effect.
No — IBC applies to companies, limited liability partnerships, and, under separate provisions, individuals and partnership firms, though most publicised cases involve larger corporate defaults given the amounts involved.