Legal challenges could undermine IBC

The Indian Bankruptcy Code lays down the Corporate Insolvency Resolution Process to be followed in handling corporate insolvency

The legal system should trust the process of the IBC. Permitting exceptions on a case by case basis is a dangerous path to go down

The Indian Bankruptcy Code (IBC) helps to create and maintain a well-functioning market mechanism to deal with insolvent corporations. In recent months, there have been attempts by market participants to modify the process laid down in the Code. If they succeed, the market for insolvent corporate assets may very easily break down.

Alvin Roth and Lloyd Shapley won the 2012 Nobel Prize in Economic Science for their work on market design. Roth has written extensively about three