New Delhi, April 8 -- A research study by Management Development Institute has highlighted critical structural gaps in how micro, small and medium enterprises (MSMEs) are treated under the Insolvency and Bankruptcy Code (IBC), calling for targeted reforms to improve access, recovery outcomes and procedural efficiency. Pre-admission settlements dominate outcomes The study found that the insolvency framework functions largely as a pre-admission settlement mechanism rather than a resolution pathway. Of over 39,000 cases filed, nearly 80 percent were resolved before admission into the Corporate Insolvency Resolution Process (CIRP). For operational creditors (OCs), including MSMEs, the trend is even sharper, with around 85 percent of cases s...