4,540 companies admitted into CIRP; 394 companies stand resolved with 36% realisation of claims by financial creditors under IBC

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..... 4,540 companies admitted into CIRP; 394 companies stand resolved with 36% realisation of claims by financial creditors under IBC - News and Press Release Dated:- 11-8-2021 - News - As on 30th June 2 .....

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..... 021, 4,540 companies were admitted into Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016 (IBC) . This was stated by Union Minister of State for Corporate Affa .....

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..... irs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha. Giving details on the resolution status, the Minister stated that 394 companies were resolved till 30th June 2021 wherei .....

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..... n financial creditors (FCs) including financial institutions, had total claims amounting to ₹ 6.80 lakh crore, out of which ₹ 2.45 lakh crore have been realised, which is 36% of their clai .....

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..... ms. The Minister further stated that the insolvency resolution process of the corporate debtor (CD) is market driven and the outcome depends on market forces which varies from case to case and sect .....

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..... or to sector. The value realised by creditors depends on available assets at the stage of admission of case under the Code. Details of cases are available in public domain on the website of Insolvency .....

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..... and Bankruptcy Board of India ( www.ibbi.gov.in ) which is periodically updated. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - T .....

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..... MI - TaxTMI - TMITax .....

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