Understanding the IBC Ecosystem: Key Players and Institutions
The Insolvency and Bankruptcy Code (IBC), 2016, has revolutionized the way India handles financial distress for individuals and companies. At its heart is a robust ecosystem designed to facilitate a swift and efficient resolution process. This module will introduce you to the critical players and institutions that form the backbone of this ecosystem.
The Core Institutions
Several key institutions are established under the IBC to oversee and manage insolvency proceedings. Understanding their roles is fundamental to grasping the IBC's operational framework.
Key Players in the Resolution Process
Beyond the institutional framework, several individuals and entities actively participate in the insolvency resolution process, each with distinct responsibilities.
The Insolvency and Bankruptcy Board of India (IBBI).
The National Company Law Tribunal (NCLT).
To manage the affairs of the distressed entity and guide the resolution process.
The IBC ecosystem is designed to be a collaborative effort, where each player and institution has a defined role in achieving the ultimate goal of timely and efficient resolution of financial distress.
Learning Resources
The official portal for the IBBI, providing access to its functions, regulations, and publications related to the IBC.
The official website of the NCLT, offering information on its benches, case status, and relevant orders concerning corporate insolvency.
The complete legal text of the Insolvency and Bankruptcy Code, 2016, essential for understanding the statutory provisions.
A comprehensive collection of regulations and circulars issued by the IBBI, detailing the operational aspects of the IBC.
An in-depth article explaining the IBC, its objectives, and the roles of various stakeholders in the resolution process.
This resource breaks down the essential roles and responsibilities of each key player within the IBC framework.
A concise overview of the IBC ecosystem, highlighting the interconnectedness of its various components and participants.
A video tutorial that visually explains the steps involved in the Corporate Insolvency Resolution Process (CIRP) under the IBC.
An introductory video that provides a foundational understanding of insolvency and bankruptcy law in India, including the IBC.
A Wikipedia entry offering a broad overview of the IBC, its history, objectives, and key provisions.