Wednesday, May 25

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:-

YearCases AdmittedOutcome of cases as on 31st December 2021
Appeal/ Review/SettledWithdraw n u/s 12AResolutionLiquidatio nOngoing
2020-215384993963324
2021-22522134704458

Further details are available in public domain on www.ibbi.gov.in, which are periodically  updated, the Minister added.

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