NEW DELHI: Financial creditors have realised Rs 42,630 crore or 25.46% of their total claims under the insolvency resolution process in the April-June period of the current financial year (FY22), showed the latest quarterly newsletter of the Insolvency and Bankruptcy Board of India (IBBI).
As many as 4,541 CIRPs (Corporate Insolvency Resolution Process) were initiated till the end of June and out of them, 2,859 were closed. As of June 2021, the lenders could recover just Rs 2.45 lakh crore or 36% of the total claims amounting to Rs 6.82 lakh crore from 396 companies that were resolved till June 30.
During the quarter of April-June 2021, 62 CIRPs ended in orders for liquidation, taking the total CIRPs ending in li…
Read the full article at: https://www.newindianexpress.com/business/2021/sep/08/ibbi-financial-creditorsrealised-just-25-per-centof-total-claims-under-insolvency-2355838.html
