‘Chasing dubious deals can boost IBC recovery’
Creditors of bankrupt companies in India could recover 10% more by challenging avoidance transactions, according to the Insolvency and Bankruptcy Board of India. These transactions, totaling Rs 3.8 lakh crore, are deals made by promoters to divert funds before bankruptcy. As of September, tribunals have ordered the recovery of Rs 7,516 crore through this process.
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
Creditors of bankrupt companies in India could recover 10% more by challenging avoidance transactions, according to the Insolvency and Bankruptcy Board of India. These transactions, totaling Rs 3.8 lakh crore, are deals made by promoters to divert funds before bankruptcy. As of September, tribunals have ordered the recovery of Rs 7,516 crore through this process. 
