LIE: Insolvency and Bankruptcy Code (IBC), 2016 has resulted in recovery of Rs. 4 lakh crore out of staggering Rs. 9 lakh crore of NPAs or bad loans given to the corporates under UPA government

Modi Lies / Sunday, December 31st, 2017

Recovery stood at Rs. 8,680 crore in FY 2016-17 and Rs. 7,106 crore in FY 2017-18 (upto 31.12.2017).  India received Rs 36,400 crore from the successful resolution of Bhushan steel while the remaining 11 cases (of the total 12) will be able to  easily retrieve about Rs 1 lakh crore. Approximating the figures, the amount stands somewhere around Rs 1.5 lakh crore (if recovered)and not Rs 4 lakh crore as claimed the PM.

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