More than 42,000 cases came for resolution under insolvency law, says IBBI official

Updated: Oct 31 2023 8:47PM

New Delhi, Oct 31 (PTI) More than 42,000 cases have been brought for resolution under the Insolvency and Bankruptcy Code (IBC), which has led to a behavioural change in the business landscape, encouraging companies to prioritise financial stability and sustainable practices, according to an official.

At an event in the national capital on Tuesday, IBBI Whole Time Member Sudhaker Shukla also said that while competition and innovation are two things that drive a company, resolvability is a goal to cherish. "It ensures that companies remain sustainable and adaptable," he added.

The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the IBC.