IBBI gives approval to 317 companies’ resolution plans; 1,126 companies to be liquidated

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As per information provided by Insolvency and Bankruptcy Board of India (IBBI), the Regulator, as on 31.12.2020, in 317 cases resolution plans have been approved and 1126 cases have been ordered for liquidation.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha on Monday.

Giving more details, the Minister said that as per information provided by IBBI, as on 31.12.2020, realisable value for creditors from the approved resolution plans of 317 cases is Rs. 2.01 lakh crore, which is 39.37% of total admitted claims (Rs. 5.11 lakh crore).

The Press Release can be accessed at: https://pib.gov.in/PressReleasePage.aspx?PRID=1703241