The Corona virus outbreak and the nation wide lockdown to curb spreading of infection have significantly impacted economic activities in the country . In a major relief for corporate borrowers hit hard by the corona virus pandemic , the government has amended the Insolvency Law to suspend up to one year provisions that trigger insolvency proceedings against defaulters . Discuss the relevant provisions of Corporate Insolvency Resolution Process under IBC 2016 and the impact of government decision over defaulting companies and economy .