IBBI admits 1,060 cases into corporate insolvency resolution process in around 2 years
As per the information provided by Insolvency and Bankruptcy Board of India, in the years 2020-21 and 2021-22 (upto 31st December, 2021), 538 and 522 cases, respectively, have been admitted into the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha today.
Giving more details, the Minister gave details of action taken in the said cases as follows:-
| Year | Cases Admitted | Outcome of cases as on 31st December 2021 | ||||
| Appeal/ Review
/Settled |
Withdraw n u/s 12A | Resolution | Liquidatio n | Ongoing | ||
| 2020-21 | 538 | 49 | 93 | 9 | 63 | 324 |
| 2021-22 | 522 | 13 | 47 | 0 | 4 | 458 |
Further details are available in public domain on www.ibbi.gov.in, which are periodically updated, the Minister added.