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Tag: World Bank
India’s Bankruptcy Reforms Face Implementation Hurdles as Recovery Rates Lag
India’s landmark bankruptcy reforms face significant implementation challenges, with nearly 80% of ongoing cases exceeding the 270-day resolution timeline. Recovery rates remain at just 32%, only marginally better than pre-reform levels, according to recent analyses.
Bankruptcy Reform Goals Versus Reality
When India introduced its new insolvency code in 2016, analysts suggest it was hailed as the end of what many called a “defaulter’s paradise.” According to reports, the World Bank had estimated that bankruptcies in the country previously dragged on for 4.3 years on average, more than twice as long as in China. The new regime reportedly promised to cut that timeline to 270 days while helping creditors recover significantly more of their dues.