Ease of doing business for MSMEs: The number of companies in wholesale and retail trade admitted for Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016 has increased by 24.9 per cent year-on-year as of March 2023. According to the report by credit rating company CareEdge, the number of cases belonging to the wholesale and retail trade increased from 526 as of March 2022 to 657 at the end of March this year.
Importantly, the share of the trading sector in the total 6,571 insolvency cases as of March 2023 stood at 10 per cent fourth highest after 2,561 manufacturing cases with 39 per cent share followed by 1,379 cases from the real estate sector with 21 per cent share, and 722 cases from th…
Read the full article at: https://www.financialexpress.com/industry/sme/msme-eodb-wholesale-retail-trade-units-10-of-companies-admitted-for-insolvency-resolution-till-march-careedge/3089688/