Of the Rs 7.52 lakh crore claims made by the creditors on their borrowers, the lenders could realise only Rs 2.5 lakh crore, reflecting the pains of liquidation that lenders were forced to suffer
MUMBAI: Nearly half of the 3,247 insolvency cases have been resolved through liquidation, and only a paltry 457 or 14 percent of them through asset sale as per their lenders-approved resolution plans, a report said on Friday.
Even the various resolution processes have witnessed the recovery of debt of just 31 percent on an average, said the data from the Insolvency & Bankruptcy Board of India.
The data which covers all the cases since the implementation of the Insolvency and Bankruptcy Code (IBC) five years ago till December 2021 reflects very slow pace of the process, according to an analysis by Icra Ratings.
Liquidation means lenders or financial firms face the maximum brunt of losses on their books.
This story is from the April 16, 2022 edition of Millennium Post Delhi.
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This story is from the April 16, 2022 edition of Millennium Post Delhi.
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