The number of corporate insolvency cases admitted by tribunals dropped by a sharp 83% annually in the October-December quarter, data from the Insolvency and Bankruptcy Board of India (IBBI) showed.
Fresh insolvency cases for the third quarter of FY21 stood at 104 compared to 628 for the same period of the earlier fiscal, as the now-expired suspension on initiating corporate insolvency proceedings was still in effect.
The third quarter figure represented a marginal improvement from the 84 and 95 fresh cases admitted during the first and second quarter of FY21, respectively, taking the total number of admitted cases to 4,139.
About 23 corporate insolvency cases yielded resolution plans during the quarter in consideration, resulting in a total…
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