The Insolvency and Bankruptcy Code put Indian companies on tenterhooks. : 2018 really proved to be a seminal year for dealmaking in India. It was the year when the tally for deals crossed the $100 billion- a never achieved milestone surpassing all previous records. What also stood out was the fact that the Indian M&A, for the first time in a decade gave China a run for its money in attracting foreign investment. The two countries were neck and neck on inbound M&A, where China attracted $41.6 billionagainst India’s $40.6 billion, said a Financial Times report citing data from Refinitiv.