New Delhi, Nov. 12 -- Sixtythree indebted companies were given a new lease of life in the September quarter - nearly half the number of distressed businesses to avoid liquidation so far this year.
The total number of firms saved under the Insolvency and Bankruptcy Code (IBC) this year is 121, official data showed.
In the eight years since the IBC came into force, 1,068 companies have been pulled back from insolvency, data released by IBBI on Monday showed.
Data also showed that bankruptcy action triggered by vendors and other service providers against their clients were fewer than those kicked off by lenders in FY23, FY24 and so far this financial year, a trend that would please policy makers.
The higher number of bankruptcy cases ini...
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