The haircuts taken by creditors in bankruptcy resolutions have increased to 73 per cent in FY24 from the 64 per cent in FY23, a report said on Friday. A total of 269 resolution plans were approved by the National Company Law Tribunals (NCLTs) in FY24, up from 189 in the year-ago period, the report by domestic rating agency Icra said. The new admissions declined to 987 in FY24 from the 1,263 in FY23, the agency said, attributing the same to a higher base in the previous fiscal because of the Covid-19 pandemic-related stress. It can be noted that the haircuts, or sacrifices, in comparison to the total dues, which are done by lenders when it comes to corporate insolvency resolutions has led to some concerns in the past about the value at which a new bidder is getting the assets. Its group head for structured finance ratings, Abhishek Dafria said there has been a "worsening" of the haircuts which are taken by the creditors through the Insolvency and Bankruptcy Code (IBC) process to a .