New Delhi [India], May 28 (ANI): Fewer companies went through the insolvency process under the Insolvency and Bankruptcy Code (IBC) in financial year (FY) 2025, according to the credit rating firm ICRA.
As per the ICRA, only 724 companies were admitted for insolvency, a sharp 28 per cent drop from 1,003 in the previous year.
The number of approved resolution plans also dipped slightly to 259 from 263 last year.
Under the IBC, introduced in 2015, authorities try to streamline the process of resolving financial distress and insolvency of companies and individuals. The IBC offers a framework for prompt and effective resolution with the dual goals of protecting creditors and encouraging entrepreneurship.
In the last quarter of FY2025,…
