Of the 525 cases with total underlying default of 1,28,810 crore so far admitted under the Insolvency and Bankruptcy Code (IBC), the steel sector is the single-biggest defaulter in terms of both number of defaulting corporates (45) and total underlying default (57,001 crore).
Within the steel sector, corporate insolvency resolution process (CIRP) is on in the case of 39 corporates, resolution plan has been approved in the case of two, and liquidation order has been passed in the case of three. One case has been closed by appeal/review.
The steel sector is followed by the retail industry, with total underlying default aggregating 12,719 crore involving 12 corporates.
As per the Economic Surveys sector-wise analysis (based on data from the …
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