Under this study1 the author had reviewed numerous papers on the insolvency and Bankruptcy code 2016 to fund out the difference of opinion among the practicioners i.e. Chartered Accounts and Normal Graduate who is maintaining books of accounts in the corporates, for this purpose the author had used the sample size of 105 to know their opinion with the application of Non-probabilistic convenient sampling. In this study it had applied the chi square test and it had been noted that all the profile of practicioners have the significant difference of opinion for the Insolvency and Bankruptcy code 2016. The outcome of the study will help to understand the advantages and disadvantages that had been associated with the application if IBC 2016.