Is the Insolvency and Bankruptcy Code losing its effectiveness?

On the contrary, it has the potential to change the behaviour of investors, lenders and borrowers to create a more healthy ecosystem for India Inc

There is a growing concern that the Insolvency and Bankruptcy Code (IBC) has taken a bit too long in resolving cases of corporate indebtedness — much beyond the stipulated outer limit of 270 days. The fear, therefore, is whether the IBC will soon be rendered as ineffective as some of the similar laws like the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Sick Industrial Companies (Special Provisions) Act, 1985 or even the winding up provisions in the Companies Act. 

A recent