India's insolvency code recovers $124B from defaulting firms, resolving thousands of cases.

The Indian government has reported that the Insolvency and Bankruptcy Code (IBC) has recovered Rs 10.22 lakh crore from defaulting firms since its implementation. The IBC resolved 28,818 applications for corporate insolvency, with 1,068 cases leading to successful resolution plans that recovered Rs 3.55 lakh crore. The government is also considering an Integrated Technology Platform to enhance transparency and reduce delays in insolvency processes.

3 months ago
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