Half of cases closed under IBC end in liquidation, only 13% are resolved



Haircut amounts to 60% of lenders’ claims in FY21

The subjects
IBC | Bankruptcy

Almost half of the cases closed by Indian lenders under the Insolvency and Bankruptcy Code 2016 in fiscal year 2021 ended in liquidation, while only 13% were resolved. In March of this year, banks closed 2,653 cases after invoking bankruptcy proceedings against defaulting debtors and, in 16% of cases, turned companies over to developers after paying part of their contributions under the Article 12A of the Insolvency Act (see graph).

Twenty-three percent of closed cases are either under review or under appeal. Out of a total of 4,376 cases, 2,653 were closed while the …

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First published: Mon May 31, 2021. 6:31 PM IST



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