IFCI, a government company, is enthused over the Insolvency and Bankruptcy Code (IBC) process, stating that its experience so far has been “encouraging”. This company is now making “judicious use” of the IBC to address corporate restructuring issues, which includes recovery, V Satya Ventakata Rao, Executive Director, IFCI told BusinessLine here.
As on date, IFCI has about total 57 cases at the National Company Law Tribunal (NCLT), involving Rs 5,854 crore. Rao highlighted that most of the NCLT-referred cases are already fully provided for in IFCI’s books and any resolution under the IBC process could lead to profits in its profit and loss account.
“Our experience of IBC has been encouraging. It’s moving in the right direction. In …
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