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IBBI marks 2023-24 as significant, NCLT sees 43% more resolutions. Mediation in IBC, prepack insolvency for large corp. Outputs surpass inputs, reducing pendency. Emphasis on MSMEs, asset quality, debtor-creditor collaboration. ....
Data available from IBBI showed that from 2016 (when IBC became operational) to December 2023, bankruptcy resolution plans were approved for 891 companies ....
The Insolvency and Bankruptcy Code (IBC), introduced in December 2016, provides for a time-bound and market-linked resolution of stressed assets. "The credible threat of the Code, that a CD may change hands, has changed the behaviour of debtors. Thousands of debtors are resolving distress in early stages of distress. ....
Regulator IBBI has amended corporate insolvency resolution process norms to increase transparency and accountability. Separate accounts, valuation methodology explanation, and separate resolution plans for real estate projects are now mandatory. Regular meetings and the option for a monitoring committee have also been introduced. ....