Out of court settlement becomes popular, as parties refrain from IBC proceedings

In cases of loan default, out-of-court deals are becoming the preference among creditors and debtors as parties look for ways to avoid initiation of the Insolvency and Bankruptcy Code (IBC). According to the Insolvency and Bankruptcy Board of India (IBBI), as of September 31, 2022, 23,417 Corporate Insolvency Resolution Process initiation applications, with an aggregate […]