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CareEdge Research Report
After slowing in H2 FY21 and FY22, the number of insolvency cases increased by 23.5% YoY in Q1 FY23, while the distribution of cases across sectors has remained similar, compared to earlier periods.
The overall recovery rate till Q1 FY23 was 30.6%, better than earlier rate of around 26% (26 cents to U.S. dollar). However, the cumulative recovery rate has been on a downtrend, decreasing from 43% in Q1 FY20 and 32.9% in Q4 FY22 as larger resolutions have already been executed and a significant number of liquidated cases were either Board for Industrial and Financial Reconstruction cases and/or defunct.
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