IBC in the slow lane: CIRP cases decline almost 12%, shows IBBI data | Business Standard News

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New corporate insolvency being at halt reflected in the continuing drop in the number of ongoing corporate resolution cases in the October-December period

Illustration: Binay Sinha

The Insolvency and Bankruptcy Code (IBC) suspension that brought new corporate insolvency cases to a halt is being reflected in the continuing drop in the number of ongoing corporate resolution cases in the October-December period.

The data released by the Insolvency and Bankruptcy Board of India (IBBI) shows that as of December 2020, there were 1,717 ongoing CIRPs, a drop of almost 12 per cent compared to September 2020.