Page 525 - ES 2020-21_Volume-1-2 [28-01-21]

152 Economic Survey 2020-21 Volume 1

9 and 10 for any default arising on or after March 25, 2020. Further, the government extended
the suspension of the Code twice for 3 months each on September 24, 2020 and December 22,
2020 to provide relief to the firms undergoing stress due to ongoing COVID-19 pandemic. The
relaxation combined with continued resolutions has allowed the number of cases to decline
since July 2020.
Figure 21: CIRP accumulation over time

Source: IBBI
4.59 Manufacturing Sector, Real Estate and Construction are among the top three sectors
initiating CIRP (Figure 22) with 39 per cent, 20 per cent and 11 per cent of the ongoing CIRPs
respectively.
Figure 22: Sector-wise status of CIRPs (as on December 2020)

Source: IBBI