The year saw resolution plans with recovery rates of approximately 27 per cent of the admitted claims, lower than roughly 36 per cent realized in fiscal 2023
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Sitharaman, in a post on social media platform X, added that the code has played an important role in resolving insolvencies
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As of 31 March 2024, a total of 2,800 applications have been filed for initiating the personal insolvency resolution process (PIRP) for Personal Guarantors to Corporate Debtors
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