Sunday, July 14, 2024
HomeNewsAverage time taken for debt resolution under IBC at a three-year high

Average time taken for debt resolution under IBC at a three-year high

Published on

Latest articles

Modern Plastics Award 2024 (Indian Second Edition) is the Ultimate and Largest Award in The Indian Plastics Industry recognised veterans and innovators

Modern Plastics Award 2024 (Indian Second Edition) is the Ultimate and Largest Award in...

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...


The average time taken for a corporate insolvency resolution process (CIRP) yielding through resolution or liquidation is at a three-year high for all stakeholders, according to India Ratings and Research (Ind-Ra).

Also Read | IBC 2.0 —Why reforms to the Insolvency and Bankruptcy Code are the need of the hour

The share of ongoing cases under CIRP for 270 days and above reflects a rising trend compared to 1QFY23 and FY23. While the realisation for financial creditors (FCs) and corporate debtors (CDs) through the resolution mechanism has marginally improved compared to 1QFY23, it remains much lower than FY21-22. Operational creditors (OCs) registered a three-year high realisation at 17.7% for CIRP closed through the resolution 

The timelines for the resolution of a CIRP continue to increase for OCs and FCs. The timeline recorded for 1QFY24 has been the highest at 635 and 643 days for OCs and FCs, respectively, since FY21 and has seen a significant jump over 1QFY23 (OCs: 555, FCs: 552).





Source link

More like this

Modern Plastics Award 2024 (Indian Second Edition) is the Ultimate and Largest Award in The Indian Plastics Industry recognised veterans and innovators

Modern Plastics Award 2024 (Indian Second Edition) is the Ultimate and Largest Award in...

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...