The short article is written to study and understand what is the working of the IBC in relation to the NCLT. The paper aims at outlining the major procedures that are incorporated while an insolvent/bankrupt company has to come to its resolution process. The paper talks of the importance of having a proper insolvency code, that can help companies that are in need of such laws because at the end the creditors are the ones who succumb to a lot of losses. This paper also focuses on the concept and reality of oppression of stakeholders. The minority stakeholders that do not contribute to a sizeable amount but are still important, have been facing a lot of problems. This paper promotes the need for corporate governance and good working environment. The readers through this paper will get an insight into the corporate laws and world that run the financial segment of our country.

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