Early harvest of IBC extremely satisfactory; creditors recovered Rs 80K cr: Jaitley

Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end. Accusing the Congress of leaving behind a legacy of an "anachronic system" of resolving commercial insolvency, Jaitley said the NDA government acted swiftly to recover the non-performing loans and legislated the insolvency and bankruptcy code (IBC). In a Facebook post titled 'Two years of Insolvency and Bankruptcy Code', Jaitley said NCLT has become a trusted forum of high credibility.