There have been four deaths for every revival case under the Insolvency and Bankruptcy Code (IBC) proceedings.
And significantly for those four, which have headed for liquidation, the process continues without much progress and hardly any takers.
Further, of the 1,858 cases taken up for resolution and finding a suitor for a revival plan, more than 1,000 are still under various stages of proceedings at the National Company Law Tribunal (NCLT).
As on March 31, 2019, of the total 1,858 cases admitted under insolvency proceedings, 94 achieved resolution, 243 were settled by mutual consent or appeals, and 378 companies/cases were taken up for liquidation. And, the rest are still undergoing the corporate insolvency resolution process (CIRP).
The …
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