Industry

200 IBC pleas filed since Mar. 24: IBBI

About 200 applications for resolution of stressed assets have been filed under the insolvency law since the suspension of fresh proceedings ended on March 24, as per IBBI.

IBBI Chairperson M. S. Sahoo said, “Since the expiry of suspension on filing, about 200 applications have been filed.

“The higher threshold default of ₹1 crore coupled with support and forbearances limit the flow of applications,” Mr. Sahoo said.

“Since the markets and the economy are not in the best of their times, the stakeholders may be waiting for the appropriate time to use the Code,” he said.


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Printable version | Aug 3, 2021 4:31:49 AM | https://www.thehindu.com/business/Industry/200-insolvency-applications-filed-since-suspension-of-fresh-proceedings-ended-in-march/article34834165.ece

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