The Department of Financial Services (DFS) on Monday reviewed the progress of major cases under the Insolvency and Bankruptcy Code (IBC) to accelerate resolution and improve recovery outcomes.
The review meeting was chaired by DFS Secretary Shri M. Nagaraju, and attended by senior officials from the Department of Financial Services, top management of Public Sector Banks (PSBs), and representatives from the Insolvency and Bankruptcy Board of India (IBBI).
Progress in High-Value Insolvency Cases
During the meeting, officials acknowledged the progress made in resolving several high-value insolvency cases during the current year.
It was noted that twenty major accounts have already been resolved through admission, assignment or…