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Figure 20: Corporate Insolvency Resolution Process (CIRPs) accumulation (as of September 30, 2021)

Source: Compilation from the website of the Nation Company Law Tribunal
(NCLT) and filing by IPs.
Note: These CIRPs are in respect of 4,593 Corporate Debtors (CDs), This excludes
1 CD which has moved directly from BIFR to resolution, This Includes Dewan
Housing Finance Corporation Limited data, the application filed by RBI was
admitted u/s 227 read with Financial Service Providers (FSPs) rules, of the code.
(a) Rescue of distressed assets

4.57 The primary objective of the Code is resolving the Corporate Debtors (CDs) in distress. As on
September 2021, the Code has rescued 421 CDs through resolution plans and referred 1419 CDs for
liquidation. The CDs rescued had assets valued at `1.48 lakh crore, while the CDs referred for liquidation
had assets valued at `0.52 lakh crore when they were admitted to Corporate Insolvency Resolution Process
(CIRP). In value terms, around 74 per cent of distressed assets were rescued. Of the CDs sent for liquidation,
three-fourth were either sick or defunct and of the firms rescued, one-third were either sick or defunct. Nearly
65 per cent of the total admitted cases have been closed, either by resolution, withdrawal or liquidation.
Out of the 1640 ongoing CIRPs, nearly 75 per cent of the cases has been ongoing for over 270 days
(Table 23).

Table 23: Status of CIRPs as of September 30, 2021
Status of CIRPs No. of CIRPs
Admitted 4708
Closed on Appeal / Review / Settled 701

Closed by Withdrawal under section 12A 527
Closed by Resolution 421
Closed by Liquidation 1419
Ongoing CIRP 1640
> 270 days 1201

> 180 days ≤ 270 days 186
> 90 days ≤ 180 days 120
≤ 90 days 133
Source: IBBI 2021