 "gavel, Insolvency, IBC, firms")
The implementation of the Insolvency and Bankruptcy Code (IBC) has been one of the biggest reforms in recent years and has significantly helped in improving the business environment. Under the resolving insolvency parameter of the World Bank’s Ease of Doing Business rankings, India improved its position by 56 places in the latest assessment. It also helped push up India’s overall rankings by 14 places to 63rd position among 190 countries. According to the World Bank, India’s insolvency resolution framework is now much better than the economies in South Asia with a higher recovery rate in less time.
However, India still needs
