ANALYSIS OF OUTCOMES OF IBC ON MANAGING THE ECONOMIC DEVELOPMENT OF INDIA

The Insolvency and Bankruptcy Code, 2016 (IBC) is considered as the major structural legal reform in India. It is making a robust Indian economy by reducing the amount of Non-Performing Assets and improving Ease of Doing Business (EoDB) ranking. It has attracted investors from abroad because they now seek India as a legible place for investment owing to the reasons as, smaller timeframe for resolution reduces risk of losing investment and flexible exit policy, even when company becomes insolvent the IBC gears towards maximum realisation of value of assets. It has given a new identity to the Indian Economy on the International platform. It seeks to create a single unified law for insolvency and bankruptcy. This research empirically studies IBC as an important tool in the growth of the Indian Economy and analyses the impact of reengineering/ restructuring under IBC on the Indian Economy. The study analyses the role of Insolvency Professionals in the Insolvency process and makes recommendations thereafter for expanding their role as Turnaround Professionals. This empirical research study is exploratory in nature.