What are the main provisions of the Insolvency and Bankruptcy Code, 2016?
The Insolvency and Bankruptcy Code, 2016 provides a time-bound process for resolving insolvency and bankruptcy cases. It establishes the National Company Law Tribunal as the adjudicating authority for corporate insolvency and the Debt Recovery Tribunal for individual insolvency. It also sets up the Insolvency and Bankruptcy Board of India as the regulator.