corporate · In Force

Insolvency and Bankruptcy Code 2016

330-day insolvency timeline. Rs 1 crore default threshold. Home buyers = financial creditors. Pre-packaged insolvency for MSMEs. Personal guarantors covered. 700+ companies resolved.

Enforced

28 May 2016

Amended

2018, 2019, 2020, 2021

Ministry

Ministry of Corporate Affairs

Key provisions and changes

• 330-day overall timeline
• Rs 1 crore minimum default
• Home buyers financial creditors
• Pre-packaged insolvency (MSME)
• Insolvency Professional framework