 "Insolvency and Bankrutcy code IBC")
The realisation of nearly 823 companies that went in for liquidation under the Insolvency and Bankruptcy Code (IBC) was a meager 6.67 per cent of the admitted claims till January 2020.
Navrang Saini, whole-time member, Insolvency and Bankruptcy Board of India (IBBI), said of the 823 companies that went for liquidation, 571 were either in BIFR (Board for Industrial and Financial Reconstruction) or weren’t going concerns. Saini was speaking on the sidelines of a seminar on IBC in Kolkata, which was organised by the Confederation of Indian Industry (CII) on Friday.
The value of assets that were in BIFR or not going
