In the second quarter of fiscal year 2024 (Q2 FY24), 38 per cent of the 7,058 companies admitted under the Corporate Insolvency Resolution Process (CIRPs) belong to the manufacturing sector, followed by the real estate and construction sectors, according to a report by CareEdge.
The second quarter saw a 19 per cent year-on-year increase in the number of insolvency cases, while the timeline for resolutions continued to rise, said the report.
CareEdge
The report shows that the share of the various sectors has largely remained constant compared with the year-ago period.
The manufacturing sector accounts for the highest share at 38 per cent of the overall cases, followed by real estate (21 per cent), construction (11 per cent) and trade …
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