The Insolvency and Bankruptcy Code, 2016 (IBC) amendment inserted Section 10A, restricting all filings in perpetuity for defaults that occurred for a period of one year due to Covid-19. As this preclusion gets lifted in March 2021, we are likely to see a flood of filings, particularly given prudential and provisioning issues for banks and international creditors. By L. Viswanathan, Partner (Chair – Finance, Projects and Insolvency) and Richa Roy, Partner