Frequent breach of timelines leading to more liquidations under IBC: ICRA

Q: How long will it take to read this news story?

The story "Frequent breach of timelines leading to more liquidations under IBC: ICRA" has 480 words across 14 sentences, which will take approximately 2 - 4 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Frequent breach of timelines leading to more liquidations under IBC: ICRA" was covered 1 weeks ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 315 news stories per day. It's most recent story was published 7 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23572331</li><li>URL: https://beamstart.com/news/frequent-breach-of-timelines-leading-1731510147305</li></ul>

Business Standard Logo Business Standard 1w ago

Frequent breach of timelines leading to more liquidations under IBC: ICRA - Business Standard

Quick Summary:

"'Lenders continue to face steep haircuts or reduction in loan amounts of nearly 72 per cent in Q2 FY2025 as the overall resolution process continues to face material delays emerging from litigations from either promoters or dissenting creditors," the agency's group head for structured finance ratings Abhishek Dafria said.

In over 71 per cent of the cases, the 270-day timeline is getting exceeded, the report by rating agency Icra said, adding that this is resulting in a higher number of liquidation orders as the elongated process erodes value.

Banks have had to take a haircut of over two-thirds in the corporate insolvency cases being resolved through the bankruptcy courts, a report said on Wednesday.