IBC recoveries declining, resolution timelines getting prolonged: Crisil
The introduction of India's bankruptcy law has positively influenced the credit culture, but Crisil Ratings reveals a decline in recoveries and prolonged resolution timelines. Recovery rates fell to 32% in September 2023, from 43% in March 2019, while average resolution time increased from 324 to 653 days, surpassing the stipulated 330 days.
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