Insolvency and Bankruptcy Board of India has resolved 611 corporate insolvency cases resulting in ₹2.44 lakh crore recovery for creditors
The Insolvency and Bankruptcy Board of India (IBBI), informed that as per the record about 611 Corporate Insolvency Resolution Processes (CIRPs) have turned into resolution, with an approximate realizable value of ₹2.44 lakh crore for financial creditors(till 31 December 2022)
As per the information,the amount that can be recovered by financial creditors from certain corporate debtors.
- Essar Steel India Limited – ₹41,017.71 crore
- Dewan Housing Finance Corporation Limited – ₹37,160 crore
- Bhushan Steel Limited – ₹35,571 crore
- Bhushan Power & Steel Limited – ₹19,350 crore
- Aircel Limited, Dishnet Wireless Limites and Aircel Cellular Limited – ₹6,630 crore
- Binani Cements Limited – ₹6,469.36 crore
These details were furnished stats were revealed by theUnion Ministry of Corporate Affairs to a parliamentary question by Lok Sabha MP Ravi Kishan on Monday.
The reply also added that with the information provided by National Company Law Tribunal (NCLT), about 21,205 cases were pending with NCLT benches as on January 31, 2023.
These include 12,963 cases under the Insolvency and Bankruptcy Code (IBC), 1,181cases of mergers and amalgamation (M&A), and 7,061 other cases.
Further, as per information provided by IBBI, since the inception of the IBC, a total of 6,199CIRPs have commenced as on December 31, 2022.