Data Drive: IBC delays worse for some | The Financial Express

Data Drive: IBC delays worse for some

Vacancies in the National Company Law Tribunal benches and ever-higher applications by creditors have led to increased workload, pushing up the timelines for completion of the overall resolution.

Data Drive: IBC delays worse for some
Insolvency case (File)

While the Insolvency and Bankruptcy Code (IBC) envisages resolution within 330 days, the median duration for acceptance of a resolution plan is around 657 days or 1.8 years in industries such as real estate, materials, healthcare and consumer durables. Compared to this, the duration for food & beverage is 1.2 years. Vacancies in the National Company Law Tribunal benches and ever-higher applications by creditors have led to increased workload, pushing up the timelines for completion of the overall resolution.

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First published on: 07-12-2022 at 04:30 IST