Around 200 applications for resolution of stressed assets have been filed under the insolvency law since the suspension of fresh proceedings ended on March 24, according to IBBI. Amid the coronavirus pandemic that had significantly impacted economic activities, certain provisions under the Insolvency and Bankruptcy Code (IBC) were suspended with effect from March 25, 2020. The suspension was in place for one year till March 24, 2021.
Talking about fresh insolvency filings after the expiry of the suspension, IBBI Chairperson M S Sahoo said the higher threshold of default of Rs 1 crore coupled with support and forbearances limit the flow of applications.
During the suspension period, fresh proceedings under the IBC were not allowed.
“Since e…
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