News & Media 27th Mar 2024
The count of broke businesses finding new homes jumped in the fiscal year nearing its close, as well-staffed bankruptcy courts amped up decision making. By the end of February, various tribunal benches had approved 250 resolution plans, compared to 185 in all of FY 2023. By the end of March, this fiscal’s count could rise to around 275, two people aware of the matter said, marking a near 50 % jump over the previous year.
Gireesh Chandra Prasad from Live Mint writes on “Bankruptcy rescues have soared this year. Here’s why” with insights from our Senior Counsel Mukesh Chand.
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