Financial creditors’ recovery from defaulters surged to 36% of admitted claims in FY23 from 23% in the previous fiscal and 17% in FY21, as national company law tribunals (NCLTs) increased sittings with the easing of the Covid-19 pandemic and bidders raised offers amid improving economic prospects.
Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that out of the total admitted claims of Rs 1.42 lakh crore, creditors realised rs 51,425 crore in FY23, compared to Rs 49,208 crore realised from admitted claims of Rs 2.14 lakh crore a year ago.
Source:
Economic Times
