Which statutory body in India is mandated with the administration and enforcement of the Insolvency and Bankruptcy Code (IBC), 2016?

💡 Solution & Explanation

The Insolvency and Bankruptcy Board of India was established as a statutory regulatory body under the Insolvency and Bankruptcy Code of 2016 to oversee the administration of corporate and individual insolvency proceedings across the country. It exercises regulatory jurisdiction over insolvency professionals, agencies, and information utilities. Other entities like the National Company Law Tribunal act as adjudicating authorities rather than apex regulators of the framework. Statutory regulatory bodies and their parent enactments are prominent features of economy syllabi.