Corporate Insolvency Resolution Processes Yielding Resolution Plans: As on 30th September 2024
- REEDLAW
- Dec 19, 2024
- 1 min read
The Insolvency and Bankruptcy Board of India (IBBI) released updated data on Corporate Insolvency Resolution Processes (CIRPs) yielding resolution plans as of 30th September 2024. The data highlights the performance of the insolvency framework under the Insolvency and Bankruptcy Code (IBC), 2016 in addressing distressed corporate entities through timely resolution.
The report underscores the number of CIRPs successfully yielding resolution plans, where financially distressed corporate debtors were revived through structured processes. The approved resolution plans facilitated value maximization for stakeholders, including creditors, while enabling the continuation of businesses as going concerns.
The IBBI data further emphasizes the positive impact of the IBC framework in fostering a creditor-driven resolution process, ensuring transparency, efficiency, and timely resolutions. This approach not only helps in addressing non-performing assets (NPAs) but also strengthens the financial ecosystem by enhancing creditor confidence and business recovery rates.
The periodic update serves as a key indicator of the performance and success of the IBC regime, reflecting its role in achieving effective debt resolution and promoting a robust insolvency resolution framework in India.
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