+
NCLT approves 180 resolution plans
ECONOMY & POLICY

NCLT approves 180 resolution plans

The biggest number of resolution plans ever accepted by the insolvency tribunal, NCLT, was 180 in FY23, realising a total of $51.4240 million from stressed assets. While finishing 77 bankruptcy processes, including some high-profile cases like Essar Steel and Monnet Ispat, this is the second biggest amount for creditors to realise after FY19, when the total realised was Rs. 1.11 lakh crore. This has made it easier for creditors of indebted companies to realise 36% of their total acknowledged claims, which totaled $1,42,5430 million for the fiscal year that concluded on March 31, 2023.

According to data made public by the Insolvency and Bankruptcy Board of India (IBBI), the combined total liquidation value of the assets of 180 corporate debtors (CD) was 39,1101 million, and the creditors received 131% more than that amount.

The biggest number of resolution plans ever accepted by the insolvency tribunal, NCLT, was 180 in FY23, realising a total of $51.4240 million from stressed assets. While finishing 77 bankruptcy processes, including some high-profile cases like Essar Steel and Monnet Ispat, this is the second biggest amount for creditors to realise after FY19, when the total realised was Rs. 1.11 lakh crore. This has made it easier for creditors of indebted companies to realise 36% of their total acknowledged claims, which totaled $1,42,5430 million for the fiscal year that concluded on March 31, 2023. According to data made public by the Insolvency and Bankruptcy Board of India (IBBI), the combined total liquidation value of the assets of 180 corporate debtors (CD) was 39,1101 million, and the creditors received 131% more than that amount.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code