New Delhi, July 1 -- Creditors rescued 69 indebted businesses in the June quarter through the Insolvency and Bankruptcy Code (IBC) route, improving upon resolutions in the year-ago period but falling a tad lower sequentially, showed official data.
In the June quarter of FY25, 58 sick companies were salvaged by their creditors and new investors, showed data available from the Insolvency and Bankruptcy Board of India (IBBI), the sector's rule-maker.
The improvement comes in the wake of the government filling vacancies in the National Company Law Tribunal (NCLT)-the judicial authority that clears debt resolution schemes under the bankruptcy code.
As of March this year, it had 60 members out of 63 sanctioned posts, data available from the ...
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