IBC helped creditors recover Rs 80,000 crore to date

Insolvency and Bankruptcy Code (IBC) has helped lenders get Rs 80,000 crore in 66 cases and another about Rs 70,000 crore is likely to be recovered in the remaining months of the current financial year Finance Minister,  Arun Jaitley said.

Jaitley said National Company Law Tribunal (NCLT) had started receiving corporate insolvency cases by the end of 2016 and so far, 1,322 cases have been admitted by it. A total of 4,452 cases have been disposed of at pre-admission stage and 66 have been resolved after adjudication. As many as 260 cases have been ordered for liquidation, he said in the post, titled two years of Insolvency and Bankruptcy Code (IBC).