Amid several bottlenecks, the Insolvency Bankruptcy Board of India (IBBI) declared 2023-24 as a landmark year, with the National Company Law Tribunal achieving a significant 43 per cent increase in resolutions, jumping from 189 cases last year to 270 this year.
The IBBI is expected to submit a report to the government over the next 2-3 months for including mediation in the Insolvency and Bankruptcy Code (IBC), which is currently under discussion and scrutiny.
The regulator is also working on prepackaged insolvency for large corporate cases, which is only allowed in MSME cases as of now.
For the first time in a year, the number of outputs has increased from the number of inputs, r…
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