If one analyses recent reforms for their economic and social impact, the Insolvency and Bankruptcy Code (IBC) of 2016 would rank among the top. According to a World Bank release (tinyurl.com/25rkm2hs), “[The] establishment of a modern insolvency regime in 2016 as part of a comprehensive strategy to reform corporate laws paved the way for [India’s jump of] 14 places to move to 63rd position from 77th, in global Ease of Doing Business rankings. As a result [of the IBC], the overall recovery rate for creditors jumped from 26.5 to 71.6 cents on the dollar”.

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