44% of closure in Corporate Insolvency Resolution Process (CIRP) ends with commencement of liquidation, according to IBBI.
The liquidation process is usually initiated when no resolution plan has been received under the CIRP.
For the CIRPs yielding liquidations, average liquidation value as of claims stood at 6.3 with CIRP initiated by financial creditor’s liquidation value at 5.5, operational creditor’s liquidation value at 8.9, and corporate debtor’s liquidation value at 8.4%.
The average time taken for closure of CIRP in the case of CIRP yielding to liquidation initiated by financial creditor, operational creditor, and corporate debtor stood at…
