Finance Minister Announces Establishment Of Additional Tribunals To Speed Up Insolvency Resolutions, Recovery: Budget 2024-25

While presenting the Union Budget for 2024-25, Finance Minister Nirmala Sitharaman said that the services of the Centre for Processing Accelerated Corporate Exit (C-PACE) will be extended for voluntary closure of LLPs to reduce the closure time.“The IBC has resolved more than 1,000 companies, resulting in direct recovery of over Rs 3.3 lakh crore to creditors. In addition, 28,000...