{
  "id": 11197469,
  "title": "Need reforms for higher recoveries and speedier resolutions in IBC: IBBI Chair",
  "url": "https://urgent.news/2026/10/01/need-reforms-for-higher-recoveries-and-speedier-resolutions-in-ibc",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T13:07:13.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/policy/need-reforms-for-higher-recoveries-and-speedier-resolutions-in-ibc-ibbi-chair/articleshow/134619858.cms"
  },
  "original_language": "en",
  "account": "Jayanti Prasad, chair of the Insolvency and Bankruptcy Board of India (IBBI), has called for reforms to boost recoveries and expedite resolutions under the Insolvency and Bankruptcy Code (IBC). During the regulator's tenth annual day, Prasad emphasized that delays and haircuts are the biggest concerns for the framework. President of the National Company Law Tribunal (NCLT), Justice (Retd.) Anupinder Singh Grewal, echoed this sentiment, advocating for an increased financial threshold for admitting cases under the insolvency framework. Grewal suggested raising the threshold from the current Rs 1 crore to either Rs 5 crore or Rs 10 crore. He also pointed out that many cases before the NCLT are not genuinely aimed at insolvency resolution. Prasad and Grewal both underscored the need for reforms, as numerous proceedings still exceed the timelines set by the IBC. Additionally, they highlighted the importance of stronger safeguards against misuse of the code, with resolution applicants required to disclose beneficial ownership to prevent ineligible promoters from returning through proxies. Since its enactment in 2016, the IBC has delivered over Rs 4.35 lakh crore through resolution plans, with creditors recovering around 94% of fair value and 166% of liquidation value. By June 2026, the framework had rescued about 4,227 corporate debtors.",
  "summary": "Jayanti Prasad emphasized the need for reforms in India's debt resolution framework to improve realizations and safeguards. Justice Anupinder Singh Grewal suggested raising the financial threshold for insolvency case admissions to enhance efficiency. Prasad highlighted the regulator's aim to address delays and improper use of the Code.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}