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IBBI nods 317 companies’ resolution plans; 1,126 firms to be liquidated

The information was provided by Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha.

March 09, 2021 1:17 IST | India Infoline News Service
The Insolvency and Bankruptcy Board of India (IBBI), the Regulator, has approved about 317 cases resolution plans. Furthermore, 1,126 companies have been ordered for liquidation as of December 2020.

The above-mentioned information was provided by Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha on Monday.

Providing more details, the minister said that as per information provided by IBBI, as of 31.12.2020, the 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).

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Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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