3 years on, just 6% resolution plans accepted under IBC, says report

With the Insolvency and bankruptcy process closing in on three years of existence, a look at the data shows that only 6% of the cases admitted under IBC since January 2017 saw their resolution plan passed by the tribunal. Of the 2,162 cases admitted under the IBC, corporate insolvency resolution process of 1,292 cases are going on, of which 445 have seen their CIRP process go beyond 270 days — the prescribed time limit for presenting a resolution plan, failing which the company goes into liquidation. 

Source: IBBI

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