Barely a year since it became effective, the Insolvency and Bankruptcy Code 2016 is up for a fresh look. A government-appointed Insolvency Law Committee has been tasked with suggesting legislative changes in the Code to iron out operational challenges and make its implementation more effective.

The move comes at a time when the ‘Big 12’ corporate debtors are entering the crucial final phase of insolvency resolution. Over 350-odd cases are currently going through the resolution process. On an average 35 cases a month — that is at least one each day — have been …