Indian Creditors Triumph: ₹3.6 Lakh Crore Recovered in Eight Years Through Insolvency Code

Indian creditors have successfully recovered a staggering ₹3.6 lakh crore over the past eight years through the Insolvency and Bankruptcy Code (IBC), according to a recent report by CPA Australia. The IBC, implemented in 2016, has transformed the resolution of stressed assets, promoting a market-driven approach. Despite these achievements, IBBI chief Ravi Mital emphasized the need for companies to engage more in voluntary insolvency processes to enhance productivity and reduce adversarial dynamics. This shift could further strengthen India's economic landscape. 

 

Source: India.com