India’s insolvency law has seen creditors recover Rs 3.55 lakh crore through the resolution of 1,068 cases till September 2024. The government highlights the market-driven nature of recovery under the IBC.
New Delhi, Nov 25 (PTI) Creditors have recovered around Rs 3.55 lakh crore through resolution of 1,068 cases under the insolvency law till September this year, the government said on Monday.
In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Harsh Malhotra also said that a total of 1,963 CIRP cases are ongoing and out of them, 1,388 have exceeded the time limit of 270 days.
CIRP refers to Corporate Insolvency Resolution Process.
The minister emphasised that realisation under the IBC is market driven and…
