The Insolvency and Bankruptcy Code, 2016, (IBC) has brought in tectonic shift in the jurisprudence relating to insolvency and bankruptcy in India. One of the key features of the IBC, as opposed to its predecessor statutes, is ‘maximisation of value of assets of the corporate debtor in a time bound manner’. The IBC was mainly brought to consolidate the corporate insolvency resolution process by replacing the previous “debtor-in-possession” model to the “creditor in control” model. The economic shock following the COVID-19 crisis diminished actual and expected sales and profits, thereby potentially putting downward pressure on the value of firms’ assets. At the inception of IBC, there was general lack of awareness among the stakeholders or participants about the different elements associated with insolvency and bankruptcy e.g., the IBC is being used as a recovery tool, not just by operational creditors or suppliers, but also financial creditors. The insolvency law as it stands today has gone through numerous changes which has been aided by the precedents set by the Supreme Court, yet, there is still a lot of scope to solve the maze of litigation, new interpretations and the need amendments challenges from different stakeholders.

The presence of research centres in numerous sectors is critical to a country’s progress. A research centre is a location used for undertaking genuine and implemented research and experiments. The main purpose of a research centre is for advancing scholarly activity primarily through collaborative research, training, research dissemination, or creative endeavours.