Budget 2024: More debt recovery tribunals on the table

Budget proposals target insolvency and debt recovery improvement, enhancing Debt Recovery Tribunals and adding platforms. Sitharaman reported ₹3.3 lakh crore recovery from 1,000 companies' debt via NCLTs. 28,000 cases worth ₹10 lakh crore were resolved pre-admission. Planned IBC changes and stronger tribunals may include CPACE service extensions for LLPs, aiming for faster resolutions and addressing twin balance sheet issues.