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IBC: NCLT approved record resolutions, more than doubled in September quarter

IBC: NCLT approved record resolutions, more than doubled in September quarter
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Why Centre should prioritise IBC s alignment with other laws

Why Centre should prioritise IBC s alignment with other laws
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Unlocking India s economic promise: Can IBC act as a catalyst for expansion?

Before IBC s implementation, insolvency and bankruptcy matters were not governed under a single law and were addressed via several statutes.

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6,571 corporate insolvencies under IBC as of March 2023: IBBI Data

Moreover, the data also mentioned that creditors have taken massive losses, about 83 percent haircuts in order to recover dues from top corporate debtors rescued under the IBC. 68 percent haircuts were on admitted claims.

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Creditors have recovered just 17% of assets of top corporates rescued under IBC: Data

According to data from Insolvency and Bankruptcy Board of India (IBBI), 678 corporate debtors have been rescued so far under the code, 117 have admitted claims of more than Rs 1,000 crore till December 2022, and 102 have yielded resolution plans.

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