75,000 Crore Recovered
Under Bankruptcy Code Till March 2019: Report
- Against the total claim of Rs.1.75 lakh crore of financial creditors total recovery as on March end stood Rs.75000 core . Source of the said data being joint report by Assocham and CRISIL.
- Since the inception of IBC the resolution of 94 stressed assets acheived around 43 % debt recovery.
- The average resolution timeline for the resolved 94 cases was 324 days against the stipulated insolvency resolution timeline of 270 days.
- The report suggested the improvement of the infrastructure of NCLT and NCLAT and digitisation of both these platforms.
- It said that the Committee of Creditors (CoC) must work dynamically with resolution professionals to revive the company and should be better equipped through various training programmes to handle professional challenges.
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