Bankruptcy cases are taking longer to resolve and yielding lower values for lenders, a credit rating agency analysis said on Monday.
The average number of days taken to close a case either through a resolution process or liquidation was at its highest at 588 days for financial creditors if one were to look at official data for the first nine months of the current fiscal, it said, adding that it was 531 days in FY22 and 463 days in FY21.
The agency analysed official data released by the Insolvency and Bankruptcy Board of India to arrive at its findings.
The stretched timelines have resulted in admissions outpacing case closures every year since FY18, India Ratings and Research said, adding that the only exception to this was FY…
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