In FY24, India's IBC witnessed a 42% increase in resolutions, resolving 269 cases mainly from real estate and manufacturing sectors, despite prolonged timelines and reduced recovery rates.

In FY24, India's Insolvency and Bankruptcy Code (IBC) saw a 42% increase in resolutions, hitting a record high of 269 cases, with 88% from backlog cases. Real estate and manufacturing sectors contributed to 65% of the total approved plans. However, resolution timelines increased to 850 days and recovery rates dropped to 27%, prompting the Insolvency and Bankruptcy Board of India to consider formal out-of-court solutions like Insolvency Mediation to expedite resolutions and preserve business value.

August 02, 2024
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