 "lenders, creditors, loans, housing, finance, ibc, bankruptcy, home, lending, company, firms, industry, shares, investment")
Almost half the cases closed by Indians lenders under the Insolvency and Bankruptcy Code 2016 in fiscal 2021 have ended in liquidation while only 13 per cent were resolved.
As of March this year, banks closed 2,653 cases after invoking the bankruptcy proceedings against loan defaulters and in 16 per cent cases, handed over the companies back to the promoters after they cleared part of their dues under Section 12A of the insolvency act (see chart). Twenty-three per cent of the closed cases are either under review or under appeal. Of the total 4,376 cases, 2,653 were closed while the
