India's rank has significantly increase in ease of doing business global world as per report 2020 by world bank on doing business "with recognition procedure available through insolvency and bankruptcy code 2016, companies have effective tools to restore financial viability, and creditors have access to better tools to successfully negotiate and have greater chances to revert the money loaned at the end of insolvency proceedings."

Prior to insolvency and bankruptcy code there were more than five act where enacted for recovery of debt due to financial institution a set of systematic defined structure of corporate and individual due from debtors has been classified in due to financial and operational creditors with set procedure of time bounded recovery process bu set structure of magnitude body of corporate insolvency professional agencies with effective management of insolvency professionals a well set adjudicating authority for corporate insolvency procedure had become created as national company law and for appeal national company law appellate tribunal, for individual insolvency proceedings debt recovery tribunal has become set by government.

Reserve bank of India has also issued notification to financial institution for recovery due from corporate debtor's immediate move IBC even default in principal and interest amount for a single day. In coincide mode we can estimate IBC will make a great role for achievement of five trillion economy target set by Prime Minister of India in long term horizon of time for Indian economic development with effective reconstitution and adequate time bound process of resolution and liquidation process enacted in provisions IBC 2016.