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Creditors have realised Rs 3.21 trillion under the resolution plans till December 31 last year
Over 27,500 applications for resolution process against corporate debtors have been withdrawn before their admission, with regulator IBBI emphasising that the credible threat of the insolvency law that ownership of debtors might change has changed the behaviour of debtors.
These Corporate Debtors (CDs) had an underlying default of Rs 9.74 trillion .
The Insolvency and Bankruptcy Code (IBC), introduced in December 2016, provides for a time-bound and market-linked resolution of stressed assets.
“The credible threat of the Code, that a CD may change hands, has changed the behaviour of debtors. Thousands of debtors are resolving distress in e…
Read the full article at: https://www.business-standard.com/companies/news/debtors-resolving-cases-before-admission-under-insolvency-law-ibbi-124022000664_1.html