Indian firms haven’t learnt to use insolvency law: IBBI

IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity. The Insolvency and...

PTI

New Delhi, Updated At : 04:57 AM Jan 31, 2025 IST

The Insolvency and Bankruptcy Code (IBC), which provides for a market-linked and time-bound resolution of stressed assets, came into force in 2016.

So far, most of the insolvency resolution processes have been initiated by creditors while in comparison voluntary applications have been less.

Speaking at a conference organised by industry body Assocham and accounting body CPA Australia in the national capital, Mital said creditors have recovered around Rs 3.6 lakh crore has been recovered by creditors under the IBC in the last eight years.

The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.

The Tribune, the largest selling English daily in North India, publishes news and views without any bias or prejudice of any kind. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the newspaper. It is an independent newspaper in the real sense of the term.

The Tribune has two sister publications, Punjabi Tribune (in Punjabi) and Dainik Tribune (in Hindi).

Remembering Sardar Dyal Singh Majithia

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