Insolvency resolution improves during Covid period: CARE Ratings

12 Apr 2021 CW Staff

Insolvency cases have steadily grown over the past four years, and the trend continued over the first three quarters of the Covid-stricken FY 2020-21. A CARE Ratings report does the math sector-wise and quarter-wise, numbers filed and resolved. The report indicates that both the numbers have increased over FY 2020-21.

The Insolvency and Bankruptcy Board of India (IIBI) has undertaken several measures in the wake of Covid-19 pandemic across India to help contain the impact of spread of the disease. The economic fallout due to Covid-19 pandemic has led to significant financial stress for borrowers across the board, this may remain a concern for some time as there is no clarity as to when Covid-19 will subside fully and even after that the business and economy may take some time to return to normal.

To address this, several IBC measures were announced by the government in May 2020 including increasing the minimum amount of default for initiation of corporate insolvency resolution process to Rs 1 crore and suspending filing of applications for initiation of corporate insolvency resolution process in respect of the defaults arising during the period of one year beginning from 25 March 2020. However, such suspension for filing of applications for initiation of corporate insolvency resolution process has ended on 24 March 2021.

Among the cases, 439 belonged to the construction sector and 816 to the real estate sector.

A CARE Ratings report says that of the total 4,139 cases admitted into Corporate Insolvency Resolution Processes (CIRPs) at the end of December 2020, 41% of the cases continue to remain in the resolution process against 57% as at the end of March 2020.

Read the full report here.

Image source

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..