The Corona virus outbreak and the nationwide lockdown to curb spreading of

infections 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.