Insolvency process: Need more efficiency to fast-track resolution

Resolution of as many as 36% of the 1,497 ongoing cases in the bankruptcy courts until September 30 were delayed beyond 270 days.

Written by FE Bureau

November 7, 2019 05:14 IST

Insolvency process, bankruptcy courts, financial creditors, Bhushan Power & Steel, fast-track resolution

In the September quarter, recovery (realisable amount) by financial creditors was Rs 27,064 crore or 34.4% of the admitted claims, thanks mainly to Rs 19,350 crore to be got from Bhushan Power & Steel.

Despite efforts to fast-track insolvency resolution, the process is yet to gather the required pace owing to a spate of litigation. Resolution of as many as 36% of the 1,497 ongoing cases in the bankruptcy courts until September 30 were delayed beyond 270 days.