Over 2,100 companies settle â¹83,000 crore bank dues
The promoters of over 2,100 companies have cleared outstanding dues worth â¹83,000 crore before action was initiated under the Insolvency and Bankruptcy Code, government data showed. The government had amended the code to bar promoters of defaulting firms from bidding for their own companies during insolvency process. Majority of these dues were reportedly cleared after the amendment of the IBC.