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of <h1>Insolvency and Bankruptcy Code 2016: Transforming India's Debtor-Creditor Dynamics and Boosting NPA Resolutions Amidst NCLT Challenges.</h1> The article discusses the impact of the Insolvency and Bankruptcy Code (IBC) introduced in India in 2016, which reformed the debtor-creditor relationship and improved the insolvency resolution process. The IBC replaced ineffective previous laws and mechanisms, leading to significant recoveries and resolutions of non-performing assets (NPAs). The National Company Law Tribunal (NCLT) has become a trusted forum, though it faces capacity challenges due to the high volume of cases. The Supreme Court has expedited judgments to clarify legal provisions. As of now, 1322 cases have been admitted, with significant financial recoveries and resolutions in progress.
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