Creditors recover Rs 3.55 trn through resolution of 1,068 cases till Sep

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Creditors recover Rs 3.55 trn through resolution of 1,068 cases till Sep - Business Standard

Quick Summary:

"A total of 1,068 cases have been resolved under the Insolvency and Bankruptcy Code, 2016 (IBC) leading to a recovery of about Rs 3.55 lakh crore to the creditors since inception of IBC till September 2024," he said.

In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Harsh Malhotra also said that a total of 1,963 CIRP cases are ongoing and out of them, 1,388 have exceeded the time limit of 270 days.

Creditors have recovered around Rs 3.55 lakh crore through resolution of 1,068 cases under the insolvency law till September this year, the government said on Monday.