Data from the Insolvency and Bankruptcy Board of India (IBBI) shows that as of June 30, 2023, over 65 per cent of the ongoing corporate insolvency resolution cases have extended beyond 270 days. In the previous quarter, the IBBI reported that 64 per cent of the ongoing corporate insolvency resolution cases had extended beyond 270 days. According to the latest quarterly newsletter by the IBBI, 10 per cent of the cases have been in progress for durations ranging from 180 to 270 days as of June 30.
Additionally, 15 per cent of the resolutions have been ongoing for a period of 90 to 180 days and merely 10 per cent of the cases have seen a timeline of less than 90 days.
Originally positioned as a swift alternative to the often sluggish older…
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