New Delhi, July 23 -- The Insolvency and Bankruptcy Code (IBC), introduced nine years ago, has played a crucial role in resolving stressed debt in India.

According to an analysis by CRISIL Market Intelligence, the IBC has directly resolved about Rs 12 lakh crore worth of debt through nearly 1,200 cases of stressed borrowers.

It stated "Insolvency and Bankruptcy Code (IBC) nine years ago has enabled the direct resolution of approximately Rs 12 lakh crore of debt."

The report highlighted that the impact of IBC goes beyond just the cases admitted by the National Company Law Tribunal (NCLT).

In addition to resolution under IBC, the report pointed out that nearly 30,000 cases involving around Rs 14 lakh crore of debt were settled even befo...