New Delhi: The ministry of corporate affairs (MCA) is working on increasing the recovery from its corporate insolvency process under the insolvency and bankruptcy code, said MCA secretary Manoj Govil at an event in New Delhi on Monday.
This aligns with the government’s plan to increase ease of doing business, Govil said. Ease of doing business includes setting up operations, conducting business, and winding up efficiently, he said.
The recovery rate in a corporate insolvency process refers to the amount of money recovered by creditors. An August 2023 analysis of 542 corporate insolvency procedures completed under the Insolvency and Bankruptcy Code, 2016 (IBC) showed the recovery rate was 30.8%.
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