394 companies were resolved till June 30, 2021 wherein financial creditors (FCs) including financial institutions, had total claims amounting to Rs6.80 lakh cr.
August 11, 2021 9:06 IST | India Infoline News Service
Union Minister of State for Corporate Affairs Rao Inderjit Singh has informed that As on June 30, 2021, 4,540 companies were admitted into Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016 (IBC).
Giving details on the resolution status, the Minister stated that 394 companies were resolved till June 30, 2021 wherein financial creditors (FCs) including financial institutions, had total claims amounting to Rs6.80 lakh cr, out of which Rs2.45 lakh cr have been realised, which is 36% of their claims.
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 sector to sector.
The value realised by creditors depends on available assets at the stage of admission of case under the Code.