Finance Insolvency law's objective is reorganisation of defaulting firms, not recovery: IBBI chief M S Sahoo Updated : March 31, 2019 04:02 PM IST Sahoo, who is at the helm of the Insolvency and Bankruptcy Board of India (IBBI), noted that the code does not rule out recovery, but it must be incidental to reorganisation. As per various estimates, more than Rs 5 lakh crore has been the direct and indirect realisation on account of the IBC. 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.