MANAGEMENT OF BUSINESS REENGINEERING AND RE-STRUCTURING UNDER INSOLVENCY AND BANKRUPTCY CODE: LESSONS FROM INDIAN EXPERIENCE

IBC is the second most crucial reform in the legal setting of India. It is because IBC is not only making India emphatically powerful in the field of the legal environment but also provides a new identification and recognition at the global platform economically. The Insolvency and Bankruptcy Code, 2016 is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. The paper studies distinguish features and the legal framework of the code. The study is descriptive in nature. In line with that, the paper also presents the impact of Insolvency and Bankruptcy code on macro environment of India.