New Delhi, July 29 -- A total of 1,077 cases have yielded resolution plans under the Insolvency and Bankruptcy Code (IBC), 2016, over the last five years, resulting in Rs 2.47 lakh crore realised for creditors, the government informed the Rajya Sabha.

Minister of State for Corporate Affairs Harsh Malhotra said the realisation amounted to 27.1 percent of claims, 101 percent of fair value and 149 percent of liquidation value.

Government Takes Steps to Speed Up Insolvency Resolution

The government has undertaken several measures to streamline the insolvency resolution process and enable time-bound resolutions under the IBC.

The Code has been amended periodically to address practical challenges, clarify provisions, streamline processes an...