Why IBBI's claim of recovering 70% of debt from 12 cases is doubtful

Sources at the IBBI said the numbers in the resolution plan and the board's report may vary because the board included the claims of the homebuyers

The Insolvency and Bankruptcy Board of India (IBBI) released data for how the insolvency code has worked in the fifth quarter of its operations (January-March 2018). The data shows that the resolution was completed for another 12 cases. The unpaid debts to financial creditors in these 12 cases added up to Rs 44.05 billion. The board said 69.70 per cent of the money, or Rs 30.7 billion, was recovered through the resolutions. This is much better than the recovery rate of 33.57 per cent that the board recorded in the nine cases resolved over the first four quarters of its