With reference to Economic Survey 2022-23, consider the following statements regarding the Insolvency and Bankruptcy Code(IBC):
1. Since the inception of the IBC, 67% of Corporate Insolvency Resolution Processes (CIRPs) have been closed.
2. More than 50 per cent of the ongoing CIRPs belong to the services sector by September 2022.
3. In FY 22, the total amount recovered by Schedule Commercial Banks under IBC has been the highest compared to Lok Adalat’s, SARFAESI Act and DRTs in this period
How many of the above statements are correct?
1
Only one
2
Only two
3
All three
4
None