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In restructuring, its more of M&A - it can be thru means of insolvency or it can be via demerger or merger - that sort of thing. Again, NCLT is involved, but less so other than to make sure shareholder interests beyond promoters is protected.
Essentially, IBC lit is not that widespread to make it a long term sustainable practice unless clubbed with other areas, whereas IRPs dedicate their lives to stuff like this.
M&A restructuring is heavily in demand at all times
This is my own opinion, may not be fully correct. I welcome an actual practicioner to correct errors