In the economy, corporate entities at times, or rather not so infrequently, fail and those whose money is invested in such entities are at the receiving end as they seldom are able to salvage what they had invested. Insolvency resolution is the process which tries to recover what best is possible in such circumstances, while also trying to avoid any sudden death of the enterprise. Before the enactment of the IBC, 2016, there was no comprehensive framework of the insolvency and bankruptcy law in India. The introduction of the Code has led to a substantial impact on the issue of resolution of such problems. However, as the courts are called upon to clarify various issues which arise in the implementation of the Code, one can see that the process has to keep on evolving to deal with the myriad variations of the problem. This is what has been studied and analysed in this paper.