Nagpur: The Insolvency and Bankruptcy Board of India (IBBI) will be soon coming up with figures of total defaults by companies. This will include claims put up by creditors who have not initiated proceedings against an entity at the National Company Law Tribunal (NCLT).
This could take the figure beyond the Rs1.30 lakh crore of default calculated at present for 500 companies going through various proceedings. Other creditors can join the insolvency proceedings along with the original petitioner. This can increase the amount of total default, which will be revealed soon, said MS Sahoo, chairman of IBBI.
A number of Nagpur-based companies too are undergoing insolvency proceedings, including entities under Gupta Group, Abhij…
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