NEW DELHI:
The resolution of 94 stressed assets achieved around 43% debt recovery as of 31 March, 2019, amounting to 75,000 crore since the inception of the Insolvency and Bankruptcy Code (IBC) in 2016, a report said.
The total recovery as of March-end stood at 75,000 crore, against the total claim of 1.75 lakh crore by financial creditors, the joint-report by Assocham and Crisil said, adding that the asset resolution framework in the country is still a “work in progress”.
The report, however, termed the recovery rate of 43% “respectable”. It noted that, had the 94 cases undergone the liquidation process, the recovery rate for financial creditors would have been 22%, even lower than the recovery rate through normal resolution process…
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