IBC helped creditors recover Rs 80,000 crore to date, says Arun Jaitley

According to the NCLT database, in 4,452 cases disposed at pre-admission stage, the amount apparently settled was around Rs 2.02 trillion, the minister added

Enacting the Insolvency and Bankruptcy Code (IBC) has helped lenders get Rs 80,000 crore in 66 cases and another about Rs 70,000 crore is likely to be recovered in the remaining months of the current financial year, Finance Minister Arun Jaitley said on Thursday.

On his Facebook page, Jaitley said National Company Law Tribunal (NCLT) had started receiving corporate insolvency cases by the end of 2016 and so far, 1,322 cases have been admitted by it. A total of 4,452 cases have been disposed of at pre-admission stage and 66 have been resolved after adjudication. As many as 260 cases have