Voluntary insolvency sees faster resolution
The average time taken to resolve a stressed company under the Insolvency and Bankruptcy Code (IBC) was 632 days as of June 2023, way above the 270 days stipulated by the Insolvency and Bankruptcy Code (IBC), show the data from the Insolvency and Bankruptcy Board of India (IBBI). But in cases where the stressed firms had filed for voluntary bankruptcy, the time taken was 541 days.
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