Insolvency And Bankruptcy Code (IBC)
Several laws, including the Indian Contract Act, the Recovery of Debts Due to Banks and Financial Institution Act of 1993, the Securitizations and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002, and the Sick Industrial Companies (Special Provisions) Act of 1985 (SICA), were in place in India to penalize defaulters. The …










