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Insolvency and Bankruptcy Board of India (IBBI) | Ministry of Finance | National Company Law Tribunal (NCLT)
The Insolvency and Bankruptcy Board of India (IBBI), in association with INSOL India, organized the 3rd International Conclave on January 28, 2026, in New Delhi. The event served as a platform for global experts and policymakers to reflect on the transformative impact of the Insolvency and Bankruptcy Code (IBC) over the past ten years. Discussions centered on the Code’s success in promoting credit discipline, maturing into a robust global framework, and improving the overall health of the banking sector by significantly reducing Non-Performing Assets (NPAs).
Judicial Performance and Adjudicatory Framework
Chief Guest Hon’ble Justice (Retd.) Ramalingam Sudhakar, President of the NCLT, highlighted the improved performance of the National Company Law Tribunal in implementing the Code. He emphasized that a dedicated adjudicatory framework has been a critical design feature of the IBC’s success compared to the pre-IBC regime. Furthermore, data from studies by IIM Ahmedabad and IIM Bangalore were cited to underscore enhanced operational and financial performance of companies resolved under the framework.
Emerging Resolution Mechanisms and Cross-Border Readiness
The Conclave featured specialized panel discussions on the evolving landscape of insolvency, including Asset Tracing, Enforcement, and Recovery. Significant focus was placed on:
Out-of-Court Workouts: Deliberations on the efficacy of pre-packaged insolvency frameworks for timely resolution.
Distressed Asset Financing: The role of Alternative Investment Funds (AIFs) in the resolution ecosystem, particularly within the housing sector.
International Alignment: Assessing India’s readiness for the implementation of the UNCITRAL Model Law to manage cross-border insolvency cases effectively.
What is the role of the “UNCITRAL Model Law” in cross-border insolvency? The UNCITRAL Model Law provides a framework for cooperation between courts and competent authorities of different states involved in cases of cross-border insolvency. It establishes clear protocols for the recognition of foreign proceedings and provides relief to ensure the fair and efficient administration of cross-border insolvencies. Adopting this law, as discussed in the Conclave, is intended to protect the interests of all creditors and other interested persons, including the debtor, by providing a predictable legal environment for international trade and investment.
Policy Relevance
The Conclave signals a transition from establishing the IBC to optimizing and scaling its international compatibility.
Institutional Maturation: The shift toward discussing pre-packs and out-of-court workouts indicates a policy move to reduce the burden on the formal judicial system.
Global Reference Model: The success of the IBC in promoting credit discipline positions it as a potential reference model for other emerging economies.
Banking Sector Stability: Continued collaboration among stakeholders and proposed amendments aim to further reduce NPAs and sustain the improved profitability of the banking sector.
Relevant Question for Policy Stakeholders: How can the proposed amendments to the IBC incorporate best practices from UNCITRAL to ensure that Indian creditors have parity in multi-jurisdictional insolvency resolutions?
Follow the full news here: Insolvency and Bankruptcy Board of India organises 3rd International Conclave 2026