Budget 2024: Finance Minister proposes to strengthen Insolvency Framework

Talking about the success of the National Company Law Tribunals (NCLTs) under the Insolvency and Bankruptcy Code (IBC), Finance Minister Nirmala Sitharaman said that more than 1,000 companies have been resolved, resulting in the direct recovery of Rs 3.3 lakh crore for creditors. Additionally, 28,000 cases involving over Rs 10 lakh crore were disposed of even before admission.