The insolvency law has helped in directly and indirectly addressing stressed assets worth Rs 3 lakh crore in the last two years, a senior government official said on Saturday.
More than 9,000 cases have come for redressal under the Insolvency and Bankruptcy Code (IBC), which became fully operational in December 2016.
Corporate Affairs Secretary Injeti Srinivas said there has been a direct and indirect impact of the Code on stressed assets worth close to Rs 3 lakh crore.
The estimated amount, included recoveries made through resolution plans and cases settled before admission by the National Company Law Tribunal (NCLT) under the Code.
Over 3,500 cases have been resolved at pre-admission stage and resulted in claims worth Rs 1.2 lakh crore get…
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