OC trigger 50% of insolvency resolution process - IBBI
PrintListen to this Article
0:00
0:00
Almost 50 per cent of corporate insolvency resolution process (CIRP) cases initiated against corporate debtors is by operational creditors, while financial creditors have initiated 40 per cent of the total CIRPs against corporate debtors, the data compiled by Insolvency and Bankruptcy Board of India (IBBI) till June 2019 revealed.
Of the 2,162 CIRPs initiated, 1,080 have been by operational creditors and 868 are by financial creditors. The remaining 10 per cent or 214 of the CIRPs initiated are by the corporate debtors themselves.
In terms of sectoral distribution, 41 per cent of the corporate debtors against whom CIRPs have been initiated are from the manufacturing sector, 19 per cent from real estate, renting, and other businesses.
Also, corporate debtors from the construction sector make up for more than 10 per cent of CIRPs. #casansaar (Source - IBBI, Business Standard)
Of the 2,162 CIRPs initiated, 1,080 have been by operational creditors and 868 are by financial creditors. The remaining 10 per cent or 214 of the CIRPs initiated are by the corporate debtors themselves.
In terms of sectoral distribution, 41 per cent of the corporate debtors against whom CIRPs have been initiated are from the manufacturing sector, 19 per cent from real estate, renting, and other businesses.
Also, corporate debtors from the construction sector make up for more than 10 per cent of CIRPs. #casansaar (Source - IBBI, Business Standard)
Category : Insolvent Professional | Comments : 0 | Hits : 323
The National Company Law Tribunal (NCLT) on Monday ordered insolvency proceedings against media baron Subhash Chandra on a plea filed by Indiabulls Housing Finance. A two-member Delhi b...
Also Read -
IBBI invites suggestions to simplify, ease & reduce cost of compliance of Regulations notified under IBC
The Insolvency and Bankruptcy Board of India (IBBI) invites suggestions/comments from public and regulated entities, on the Regulations for simplifying, easing and reducing cost of compliance. The ...
Also Read -
Govt considers giving financial creditor status to insurers issuing surety bond during resolution
To make surety bond business more attractive, the government is looking at making relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditor in case of def...
Comments