The corporate insolvency resolution process yielded a resolution of 94 cases till March 31
The corporate insolvency resolution process yielded a resolution of 94 cases till March 31 which has resulted in the settlement of claims worth Rs 173,359 crore, according to the Economic Survey 2018-19 tabled by Finance Minister Nirmala Sitharaman in Parliament on Thursday.
A total of 6,079 cases involving a total amount of Rs 2.84 lakh crore were withdrawn before admission under provisions of the Insolvency and Bankruptcy Code (IBC) till February 28. Besides, Rs 50,000 crore was received by banks from previously non-performing accounts.
“The accelerated recoveries show behavioural change for the wider lending ecosystem even before entering…
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