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Lenders have recovered Rs 3.5 trillion under IBC: IBBI Chairperson Mital

Business Standard LogoBusiness Standard1w ago

Lenders have recovered Rs 3.5 trillion under IBC: IBBI Chairperson Mital - Business Standard

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Lenders have recovered Rs 3.5 lakh crore through resolution of stressed assets under the insolvency process in the last eight years, a period during which NCLT approved 1,000 resolution plans, IBBI Chairperson Ravi Mital said on Tuesday.

This accounts for 45 per cent of the 1,000 such plans approved in the last eight years, Mital said at a function to mark the eighth foundation day of the IBBI.According to him, Rs 3.5 lakh crore has been recovered directly by lenders, of which Rs 1 lakh crore was in the last two years.

The Insolvency and Bankruptcy Code (IBC) provides for a market-linked and time-bound resolution of stressed assets.


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Published On: 2024-10-01 @ 17:44:35 (1 weeks ago)

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