 "Status check: 30% recovery in IBC so far, shows CareEdge data")
The number of insolvency cases increased by 25 per cent year -on-year in October-December 2022, even though they were lower as compared to the pre-Covid period, according to a newsletter released by the Insolvency and Bankruptcy Board.
Recovery has been seeing a downward trend — from 43 per cent in April-June FY20 in the (Insolvency and Bankruptcy Board) IBC to 30.4 per cent till third quarter of FY22 — according to an analysis by CareEdge.
For cases that have been resolved, creditors have continued to face a haircut of around 70 per cent of the admitted claims.
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