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Cents On The Dollar: Who Is Responsible For The Low Recoveries At IBC?
Recoveries through IBC accounted for 32% of the amount claimed, as of March 2024.
29 May 2024, 08:30 AM IST ![NDTV Profit](/icons/feather-without-circle.svg)
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![<div class="paragraphs"><p>Indian Rs 500 banknotes arranged for photograph. (Source: Vijay Sartape/NDTV Profit)</p></div>](https://media.assettype.com/bloombergquint%2F2024-03%2F1107256b-487e-4ecc-9ff4-79518662ae40%2FIndian_500_rupee_banknotes_arranged_for_photograph___Photographer__Vijay_Sartape___Source__NDTV_Prof.jpg?rect=0%2C0%2C4160%2C2340&auto=format%2Ccompress&w=200)
Indian Rs 500 banknotes arranged for photograph. (Source: Vijay Sartape/NDTV Profit)
About 89 months since the introduction of the Insolvency and Bankruptcy Code, lenders are still grappling with low recoveries and inordinate delays in resolution of corporate stress. But, who is responsible for this? Is it the judiciary, which oversees repeated delays in admission? Is it financial creditors, who regularly delay the resolution process way beyond the 330-day time limit? Is it promoters, who come up with constant legal ...
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