Insolvency and Bankruptcy Code (IBC), once hailed as the panacea of all ills plaguing bad debt of corporations and for quick recovery of outstanding loans from them, has been in operations for a while now.
What we have seen is, on the one hand, large corporates wriggling out of bad debts lightly and on the other, banks losing a major share of the lending, often camouflaged under the term haircut!
Insolvency and Bankruptcy Code: Whose Loss, Whose Gain? A Critical Analysis of Performance of Two Years of IBC gives a comprehensive analysis of the IBC, and what it achieved and where it failed. For anyone interested in understanding IBC and the banking crisis due to non-performing assets in a detailed, balanced and extensive manner, this study would help.