Key Points
Creditors' recovery from loans to bankrupt companies under the Insolvency and Bankruptcy Code (IBC) rose to 33% of their admitted claims in the September quarter from 29.5% in the previous three months, according to the latest data compiled by the insolvency regulator...
Improved investor interest in a broad range of small and medium enterprises and above-average realisation from the assets of a large company - Srei Group - boosted the recovery last quarter, showed the data...
The improved realisation in the last quarter pushed up the overall recovery since the insolvency regime came into force in late 2016 to 3.16 lakh crore, or 31.85% of the claims that were admitted by the adjudicating authority relating to 808 stressed firms...
The Insolvency and Bankruptcy Board of India (IBBI) data for the September quarter showed Srei Group assets fetched over 41.7% of the admitted claims of creditors...
The rescue of other stressed assets (with admitted claims above 200 crore each) that propped up the overall recovery rate in the September quarter were Arena Superstructures (74.1% of claims of 781 crore); Sivana Realty (66% of 459 crore); Capricorn Food Products (34.9% of 228 crore); and UBS Publishers (56.2% of 221 crore)..
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