Economy Non-adherence to timelines under IBC a major concern, says govt official Updated : December 27, 2018 12:40 PM IST Describing the implementation of the Insolvency and Bankruptcy Code (IBC) as a "mixed story", he said the law has already impacted the behaviour of borrowers and lenders. The code, which became fully operational in December 2016, provides for a market-determined and time-bound insolvency resolution process. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.