Marginal drop in CIRP cases admitted in Q2
Financial Express Mumbai|November 20, 2023
THE NUMBER OF cases admitted for the Corporate Insolvency Resolution Process (CIRP) declined marginally in the second quarter of this fiscal to 232 cases as against 247 in Q1, according to the latest data from the Insolvency and Bankruptcy Board of India (IBBI).
SACHIN KUMAR
Marginal drop in CIRP cases admitted in Q2

Total ongoing insolvency cases reached 2,001 as of September, while the number of closed cases stood at 5,057.

Of the total admitted cases as of the second quarter, 38% were from the manufacturing sectors, 21% from real estate, 12% from construction and 10% from retail and wholesale trade.

"Liquidation remains the most common path of closure for cases under the insolvency resolution process," said Kotak Institutional Equities in a report on insolvency resolution. "Of the nearly 5,000 cases that were closed until 2QFY24, only 15% were resolved, whereas 45% faced liquidation," the report said.

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