25-January-2021
Insolvency
 
IBC took 433 days for a resolution on an average
13-Jan-2021

The average time taken for resolutions has been much more than the outer limit prescribed in the Insolvency and Bankruptcy Code (IBC), even as financial creditors have realised 43.56% of their claims through the process. As per the financial stability report released by Reserve Bank of India (RBI), the corporate insolvency resolution process (CIRPs), which yielded resolution, took an average of 433 days as of September 2020. IBC prescribes a maximum period of 330 days for a resolution as per an amendment introduced in 2019.

News Source:- https://www.financialexpress.com/industry/ibc-took-433-days-for-a-resolution-on-an-average/2169552/