Chennai, Nov 29 (IANS): With the debt recoverable rate going down to 30.8 per cent or Rs 243,452.5 crore (lenders foregoing Rs 70 per cent of their admitted claims of Rs 790,626.2 crore) the number of cases admitted for Corporate Insolvency Resolution Process (CIRPs) has increased since the launch of the Insolvency and Bankruptcy Code in 2016, said CARE Ratings.
The report also said the trend in the loan recovery rate is also going down.
In a research report, CARE Ratings said after slowing in H2FY21 and FY22, the number of insolvency cases increased by 24 per cent y-o-y in Q2FY23.
“However, despite the increase, the number of cases admitted to the insolvency process continued to be lower compared to earlier quarters in FY19/20. The d…
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