Corporate Insolvency: A Unified Code to Meet Global Standards

In India, A multi-layered legal framework for dealing with insolvency was complicated and not in line with global standards. The insolvency and Bankruptcy code has been set up to consolidate and amend insolvency laws to simplify and expedite the insolvency proceedings. Insolvency and Bankruptcy code promote entrepreneurs, increase the credit supply and protect the interest of shareholders, this research paper provides a summary of Insolvency laws before and after the Insolvency and Bankruptcy code 2016 by focusing on Insolvency legislative framework and insolvency resolution in India.