NEW DELHI : Unviable companies liquidated under the Insolvency and Bankruptcy Code (IBC) far outnumbered those rescued since the new bankruptcy framework came into force four years ago, indicating the challenges facing the economy.
Official data showed that almost in every quarter since January 2017, the number of businesses that were ordered to be liquidated was three to four times the companies that could find a fresh lease of life.
The highest number of liquidation orders of 155 came in the second quarter of FY20, against 33 resolution plans cleared by tribunals, data from the Insolvency and Bankruptcy Board of India (IBBI) showed. In the second quarter of FY21, 68 companies faced liquidation against 22 businesses stitching toget…
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