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Published: Nov 30, 2022
Updated: Nov 30, 2022
Is the Modi government’s bankruptcy law a hit or a miss? That’s the debate going on in legal and corporate circles.
Since the law was implemented in 2016, 25,225 cases involving a total of Rs 10.5 trillion have been disposed of by the courts. After most of the early resolution of steel companies, the law has slowed down since 2020 with rich barons raising their marketshare by buying smaller rivals for a song.
A joint report by leading consultants Khaitan & Co and Anarock says that while real estate comprises just 5% of all cases under IBC, their resolution rate is among the lowest. On the other hand, IBC has driven superior value realisation by financial creditors in real estate – with this class of creditors realising 66% of the admitted claims as compared to just 31% of admitted claims realised in other sectors.
So what is the verdict? Experts say that like any other government scheme, IBC has lost the sheen after the initial euphoria.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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