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@article{198084,
        author = {Sangita  Virendra Raokhande},
        title = {IBC Lacuna Bridging Gaps in Contemporary Research},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {11},
        pages = {9258-9267},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=198084},
        abstract = {The Insolvency and Bankruptcy Code, 2016 (IBC) represents India’s most ambitious economic reform in the domain of insolvency resolution, replacing a fragmented and inefficient regime with a unified, creditor centric framework. While the Code has significantly improved recovery rates, strengthened credit discipline, and enhanced India’s global ranking in resolving insolvency, its practical implementation over nearly a decade has revealed several structural, procedural, and interpretational lacunae. These gaps have manifested in delays, value erosion, judicial inconsistencies, and stakeholder imbalances, thereby diluting the Code’s foundational objectives of time bound resolution and maximisation of value. This research paper undertakes an exhaustive doctrinal and empirical analysis of the key lacunae in the IBC, supported by statutory interpretation, case law, regulatory reports, and comparative international practices. It identifies sixteen major deficiencies, ranging from delays in admission and CIRP completion to ambiguities in government dues, personal guarantor liability, CoC accountability, Section 29A overbreadth, and the under performance of information utilities. The paper also examines cross border insolvency gaps, liquidation trends, and the challenges faced by homebuyers, MSMEs, and operational creditors. Drawing from comparative models in the UK, US, and Singapore, the paper proposes a set of calibrated reforms aimed at strengthening institutional capacity, enhancing procedural clarity, and restoring the primacy of resolution over liquidation. The study concludes that while the IBC remains a transformative statute, its long term success depends on continuous refinement, judicial restraint, and robust institutional strengthening.},
        keywords = {insolvency resolution, liquidation, moratorium.},
        month = {April},
        }