Reimagining Corporate Rescue: A Critical Analysis of the Insolvency and Bankruptcy Code’s Efficacy in Post-Pandemic India

Abstract

The COVID-19 pandemic has profoundly disrupted the Indian corporate landscape, exposing vulnerabilities in the existing insolvency and bankruptcy frameworks. This study critically examines the efficacy of the Insolvency and Bankruptcy Code (IBC) in facilitating corporate rescue and restructuring in the post-pandemic period. The research aims to evaluate the performance of the IBC amidst unprecedented economic challenges, analyze the impact of temporary legislative amendments, and identify key bottlenecks affecting timely resolution. Employing a mixed-method approach, this paper utilizes empirical data, case studies, and expert insights to assess the speed, efficiency, and fairness of insolvency proceedings under the IBC framework. The findings reveal that while the IBC has played a pivotal role in managing corporate distress, gaps remain in addressing pandemic-specific complexities, requiring policy reforms to enhance flexibility, creditor-debtor balance, and technological integration. The study contributes to the ongoing discourse on insolvency law reforms and offers recommendations for strengthening corporate rescue mechanisms to foster economic resilience in India.