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63 businesses find debt resolution in Q3
Mint Mumbai
|November 13, 2024
In the eight years since IBC came into force, 1,068 companies have been pulled back from insolvency
Sixty-three indebted companies were given a new lease of life in the September quarter—nearly half the number of distressed businesses to avoid liquidation so far this year.
The total number of firms saved under the Insolvency and Bankruptcy Code (IBC) this year is 121, official data showed. In the eight years since IBC came into force, 1,068 companies have been pulled back from insolvency, data released by IBBI (Insolvency and Bankruptcy Board of India) on Monday showed.
Data also showed that bankruptcy action triggered by vendors and other service providers against their clients were fewer than those kicked off by lenders in FY23, FY24 and so far in FY25, a trend that would please policy makers.
This story is from the November 13, 2024 edition of Mint Mumbai.
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