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 vency and Bankrupty Board of India,
nuary-March 2022, Vol. 22.

as a guide for taking or recommending

sional advice if he/she intends to take
 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
INSOLVENCY AND BANKRUPTCY NEWS

Table No. Table of Contents

1 Corporate Insolvency Resolution Process
2 Sectoral Distribution of CIRPs as on March 31, 2022
3 Initiation of Corporate Insolvency Resolution Process
4 Outcome of CIRPs, initiated Stakeholder-wise, as on March 31, 2022
5 Status of CIRPs as on March 31, 2022
6 Closure of CIRP by Withdrawal till March 31, 2022
7 CIRPs Ending with Orders for Liquidation till March 31, 2022
8 CIRPs Yielding Resolution
9 Status of Liquidation Processes as on March 31, 2022
10 Details of Closed Liquidations
11 Reasons for Liquidations
12 Claims in Liquidation Process
13 Details of Avoidance Applications and Disposal
14 Twelve Large Accounts
15 Commencement of Voluntary Liquidations till March 31, 2022
16 Status of Voluntary Liquidations as on March 31, 2022
17 Reasons for Voluntary Liquidations
18 Details of 1211 Voluntary Liquidations
19 Realisations under Voluntary Liquidation
20 Average time for approval of Resolution Plans/Orders for Liquidation
21 Corporate Liquidation Accounts as on March 31, 2022
22 Insolvency Resolution of Personal Guarantors
23 Registered IPs and AFAs as on March 31, 2022
24 Registration and Cancellation of Registrations of IPs
25 Distribution of IPs as per their Eligibility as on March 31, 2022
26 Age Profile of IPs as on March 31, 2022
27 Replacement of IRP with RP as on March 31, 2022
28 IPEs as on March 31, 2022
29 Activities by IPAs
30 CPE hours earned by the IPs
31 Details of information with NeSL
32A Registered Valuers as on March 31, 2022
32B Registered Valuers (Entities) as on March 31, 2022
33 Registration of RVs till March 31, 2022
34 Region Wise Registered Valuers as on March 31, 2022
35 Age profile of RVs as on March 31, 2022
OARD OF INDIA
CY NEWS

Figure No.
1, 2
3, 4, 5, 6
7
22 8, 9, 10
11
12, 13
14

15

16

17
18
19
20

ion

21

22

23

24
Table 1: Corporate Insolvency Resolution Process

Year / Quarter CIRPs at the

beginning of the
Period

2016 - 17 0
2017 - 18 36
2018 - 19 537
2019 - 20 1059
2020 - 21 1805
2021 - 22 1626
Total NA
These CIRPs are in respect of 5119 CDs.
This excludes 1 CD which has moved directly from BIFR to res
Source: Compilation from website of the NCLT and filing by IP
e Insolvency Resolution Process
(Number)

Admitted Closure by CIRPs at the

Appeal/Review/ Withdrawal under Approval of Commencement of end of the
Settled Section 12A Resolution Plan Liquidation Period

37 1 0 0 0 36
706 94 0 20 91 537
1157 154 97 78 306 1059
1986 344 217 137 542 1805
538 86 160 120 351 1626
834 52 112 125 319 1852
5258 731 586 480 1609 1852
ect of 5119 CDs.
ch has moved directly from BIFR to resolution.
m website of the NCLT and filing by IPs.

47
Commencement of Liqu
###
 Go to Table of Contents

Commencement of Liquidation
Table 2: Sectoral Distribution Of CIRPs as on March 31, 2022
Sector
No. of CIRP

Admitted Closed
Appeal/Review/ Withdrawal
Settled under Section 12
A
Manufacturing 2103 257 236
Food, Beverages & Tobacco Products 268 28 30
Chemicals & Chemical Products 217 29 31
Electrical Machinery & Apparatus 157 21 9
Fabricated Metal Products 113 14 17
Machinery & Equipment 240 38 34
Textiles, Leather & Apparel Products 360 43 39
Wood, Rubber, Plastic & Paper Products 242 28 30
Basic Metals 355 39 26
Others 151 17 20
Real Estate, Renting & Business Activities 1074 191 141
Real Estate Activities 263 53 23
Computer and related activities 153 22 23
Research and Development 6 2 1
Other Business Activities 652 114 94
Construction 578 104 68
Wholesale & Retail Trade 527 65 43
Hotels & Restaurants 112 21 16
Electricity & Others 156 16 7
Transport, Storage & Communications 150 18 14
Others 558 59 61
Total 5258 731 586
Note: The distribution is based on the CIN of CDs and as per National Industrial Classification (NIC 2004).

Admitted Appeal/Review/ Approval of

Settled/Wtihdraw Resolution Plan
Sector n

Manufacturing 2103 475 244

Real Estate 1074 320 59
Construction 578 166 49
Retail Trade 527 105 27
Hotels 112 37 14
Electricity 156 22 23
Transport 150 33 11
Others 558 118 44
Total 5258 1276 471

Admitted Appeal/Review/ Approval of

Sector Settled Resolution Plan

Manufacturing 40% 37% 52%

Real Estate 20% 25% 13%
Construction 11% 13% 10%
Retail Trade 10% 8% 6%
Hotels 2% 3% 3%
Electricity 3% 2% 5%
Transport 3% 3% 2%
Others 11% 9% 9%
 Go to Table of Contents
No. of CIRPs

Closed Ongoing
Approval of Commencement of Total
Resolution Plan Liquidation

244 698 1435 668

30 84 172 96
29 65 154 63
7 70 107 50
11 42 84 29
20 71 163 77
30 139 251 109
30 72 160 82
64 114 243 112
23 41 101 50
62 276 670 404 332
12 32 120 143
5 53 103 50
1 0 4 2
44 191 443 209
49 111 332 246 172
30 197 335 192 108
14 29 80 32 37
26 50 99 57 23
11 58 101 49 32
44 190 354 204 120
480 1609 3406 1852 1317

Commencement of
Liquidation

698
276
111
197
29
50
58
190
 1609

Commencement of
Liquidation

43%
17%
7%
12%
2%
3%
4%
12%
Table 3: Initiation of Corporate Insolvency Resolution Process
Year / Quarter No. of CIRPs Initiated by
Operational Financial Corporate Total
Creditors Creditors Debtors
2016 - 17 7 8 22 37
2017 - 18 310 285 111 706
2018 - 19 570 516 71 1157
2019 - 20 1052 882 51 1986
2020 - 21 318 198 22 538
2021 - 22 442 347 42 834
Total 2699 2236 319 5258

Note: This exludes cases wherein applications filed by RBI were admitted u/s 227 of the Code.

No. of CIRPs Initiated by

Operational Financial Corporate
Creditors Creditors Debtors
2016 - 17 7 8 22
2017 - 18 310 285 111
2018 - 19 570 516 71
2019 - 20 1052 882 51
2020 - 21 318 198 22
Apr - Jun, 2021 71 60 10
Jul - Sep, 2021 86 94 6
Oct-Dec, 2021 113 68 11
Total 2527 2111 304

No. of CIRPs Initiated by

Operational Financial Corporate
Creditors Creditors Debtors
2016 - 17 7 8 22
2017 - 18 317 293 133
2018 - 19 887 809 204
2019 - 20 1939 1691 255
2020 - 21 2257 1889 277
As on June 21 2328 1949 287
As on Sep 21 2414 2043 293
As on Dec 21 2527 2111 304
 Go to Table of Contents

Total

37
706
1157
1985
538
141
186
192
4942

Total

37
743
1900
3885
4423
4564
4750
4942
Table 4: Outcome of CIRPs initiated Stakeholder-wise, as on March 31, 20

Outcome Description

Status of CIRPs Closure by Appeal/Review/Settled

Closure by Withdrawal u/s 12A
Closure by Approval of Resolution Plan
Closure by Commencement of Liquidation
Ongoing
Total
CIRPs yielding Realisation by FCs as % of Liquidation Value
Resolution Plans Realisation by FCs as % of their Claims
Average time taken for Closure of CIRP
CIRPs yielding Liquidation Value as % of Claims
Liquidations
Average time taken for Closure of CIRP

Description
Appeal/Review/Settled
Withdrawal u/s 12A
Approval of Resolution Plan
Commencement of Liquidation
Total

Description
Appeal/Review/Settled
Withdrawal u/s 12A
Approval of Resolution Plan
Commencement of Liquidation
older-wise, as on March 31, 2022
Go to Table of Contents
CIRPs initiated by
Financial Operational Corporate Total
Creditor Creditor Debtor
196 530 5 731
163 416 7 586
269 163 47 480
714 718 177 1609
894 872 83 1852
2236 2699 319 5258
192.8 115.3 140.6 171.5
42.7 16 25.5 32.9
531 528 516 528
6.3 8.9 9.7 7
433 401 373 412

CD FC OC
5 196 530
7 163 416
47 269 163
177 714 718
236 1342 1827

CD FC OC
2% 14.61% 29%
3% 12.15% 23%
20% 20.04% 9%
75% 53.20% 39%
Table 5: Status of CIRPs As on March 31, 2022
Go to Table of Contents
Status of CIRPs No. of CIRPs
Admitted 5258
Closed on Appeal / Review / Settled 731
Closed by Withdrawal under section 12A 586
Closed by Resolution 480
Closed by Liquidation 1609
Ongoing CIRP 1852
> 270 days 1217
> 180 days ≤ 270 days 161
> 90 days ≤ 180 days 231
≤ 90 days 243

Ongoing CIRP Number of CIRPs %

> 270 days 1217 ###
> 180 days ≤ 270 days 161 ###
> 90 days ≤ 180 days 231 ###
≤ 90 days 243 ###
Total 1852 100
*Data awaited in 2 CIRPs
Table 6: Closure Of CIRP by Withdrawal till March 31, 2022

Amount of Claims Admitted* (₹ crore)

≤ 01
> 01 ≤ 10
> 10 ≤ 50
> 50 ≤ 100
> 100 ≤ 1000
> 1000
Reason for Withdrawal*
Full settlement with the applicant
Full settlement with other creditors
Agreement to settle in future
Other settlements with creditors
Others
*Data in 2 cases is awaited

Amount of Claims Admitted* (₹ crore)

≤ ₹ 1 crore
> ₹ 1 crore ≤ ₹ 10 crore
> ₹ 10 crore ≤ ₹ 50 crore
> ₹ 50 crore ≤ ₹ 100 crore
> ₹ 100 crore ≤ ₹ 1000 crore
> ₹ 1000 crore
Total
till March 31, 2022
Go to Table of Contents
No. of CIRPs

320
130
82
23
24
5

249
39
34
124
138

No. of CIRPs %
320###
130###
82###
23###
24###
5###
584
Table 7: CIRPs ending with Orders for Liquidation till March 31, 2022

State of CD at the Commencement of CIRP No. of CIRPs initiated by

FC OC CD
Either in BIFR or Non-functional or both 508 558 130
Resolution Value > Liquidation Value 94 57 31
Resolution Value ≤ Liquidation Value* 607 652 140
Note:
1. There were 88 CIRPs, where CDs were in BIFR or non-functional but had resolution value higher than liquidation value.
2. *Includes cases where no resolution plans were received and cases where liquidation value is zero or not estimated.
3. Data of 27 CIRPs is awaited.

Either in BIFR or Non-functional or both

1201.56
 Go To Table of Contents
nitiated by
Total
1196
182
1399

iquidation value.
estimated.
Table 8: CIRPs yielding Resolution

Sl. No. Name of CD Defunct Date of

(Yes/No) Commencement
of CIRP

Part A: Prior Period (Till December 31

1 Unnati fortune Hotmart Private Limited No 11/06/19
2 Alekhya Drugs Private Limited No 11/12/19
3 Universal Industrial Equipment and Technical Services Private Limited No 18/12/19
4 Exclusife Technosoft Private Limited No 01/09/20
5 S K Wheels Private Limited* NA 29/03/19
6 Goa Invescast Limited Yes 04/07/19
7 SPS Metal Cast and Alloys Limited Yes 25/06/19
8 Atlantic Projects Limited No 15/10/19
9 The National Sewing Thread Company Limited No 29/08/19
10 Shaifali Steels Limited No 17/12/19
11 Panacealife Healthzone Private Limited No 03/09/20
12 Ambient Computronics Private Limited No 10/12/20
13 Solo Metals Private Limited Yes 17/12/19
Part B: January - March, 2022
1 AP Gems and Jewellary Pack Private Limited No 04/06/19
2 Astonfield Solar (Gujarat) Private Limited No 20/11/18
3 Hail Tea Limited No 21/01/20
4 India Stuffyarn Limited Yes 11/03/21
5 Real Strips Limited No 09/03/21
6 COVIDH Technologies Limited Yes 07/01/21
7 S.V.E.C. Constructions Limited Yes 08/01/21
8 Narayani Steels Limited No 24/03/21
9 Cura Healthcare Private Limited Yes 10/12/19
10 Mather Projects Private Limited No 30/11/18
11 Vardhman Buildtech Private Limited* NA 29/01/19
12 Regen Powertech Private Limited No 13/12/19
13 Shiva Medicare Limited No 14/12/20
14 Jharkhand Mega Food Park Private Limited No 10/01/20
15 Utech Engineering Work (India) Private Limited No 25/06/19
16 Krishna Ferro Product Limited Yes 04/10/19
17 Coastal Oil & Gas Infrastructure Private Limited Yes 26/02/21
18 Kariwala Designers Private Limited Yes 24/10/19
19 Ideal Energy Projects Limited No 28/01/20
20 Tayal Foods Limited Yes 03/10/19
21 Om Besco Rail Products Limited No 20/05/20
22 Bartronics India Limited No 02/12/19
23 Kanishkdeep Stock Consultants Private Limited Yes 09/02/21
 24 Deegee Cotsyn Private Limited No 26/02/19
25 D Thakkar Construction Private Limited No 27/03/19
26 M Tech Developers Private Limited No 12/11/20
27 Kudos Chemie Limited Yes 05/07/19
28 Trimurti Concast Private Limited No 24/12/19
29 Siva Ram Yarns Private Limited No 15/11/19
Total (January - March, 2022)
Total (Till March, 2022)
Note: * Data awaited.
 (Amount in ₹ crore)
Date of Approval CIRP Total Admitted Liquidation Realisable by Realisable Realisable by
of Resolution initiated by Claims of FCs Value FCs by FCs as % FCs as % of
Plan of Admitted Liquidation
Claims Value

r Period (Till December 31, 2021)

20/05/21 FC 50.22 26.70 31.26 62.25 117.09
03/09/21 OC 14.10 20.69 14.10 100.00 68.13
07/10/21 OC 72.75 13.50 12.83 17.63 95.02
29/10/21 OC 6.81 1.96 0.00 0.06 0.19
09/11/21 FC - - - - -
09/11/21 OC 4.00 4.17 2.75 68.70 65.95
25/11/21 OC 754.92 10.85 11.75 1.56 108.29
25/11/21 FC 153.11 3.93 4.40 2.87 111.96
06/12/21 FC 129.08 22.05 20.08 15.56 91.07
13/12/21 OC 104.89 6.59 7.75 7.39 117.60
14/12/21 FC 4.82 5.84 4.00 82.99 68.49
14/12/21 OC 0.00 0.41 0.00 NA NA
24/12/21 OC 37.67 5.04 5.15 13.67 102.18
B: January - March, 2022
03/01/22 FC 57.69 91.35 25.00 43.33 27.37
03/01/22 CD 78.08 28.77 24.50 31.38 85.15
03/01/22 OC 14.43 4.79 10.00 69.30 208.77
04/01/22 OC 0.00 0.00 0.00 NA NA
04/01/22 FC 95.04 83.01 77.10 81.12 92.88
10/01/22 OC 0.00 0.01 0.00 NA NA
10/01/22 FC 617.42 4.02 5.50 0.89 136.82
11/01/22 FC 296.13 17.37 27.62 9.33 159.01
13/01/22 OC 16.01 9.93 8.50 53.09 85.60
18/01/22 FC 90.11 115.64 87.32 96.91 75.51
28/01/22 FC - - - - -
01/02/22 OC 1306.40 137.12 160.00 12.25 116.69
07/02/22 FC 1.92 0.00 0.69 35.91 468233.47
10/02/22 FC 49.64 14.98 20.00 40.29 133.51
11/02/22 OC 13.61 2.75 12.00 88.17 436.36
15/02/22 OC 52.92 1.80 2.45 4.63 136.11
16/02/22 FC 1197.85 36.47 36.63 3.06 100.44
17/02/22 OC 4.13 3.54 3.40 82.32 96.05
01/03/22 FC 3188.31 356.13 360.00 11.29 101.09
02/03/22 FC 12.32 1.00 2.68 21.75 268.00
08/03/22 OC 68.12 29.97 28.84 42.34 96.23
10/03/22 FC 1041.95 24.59 25.00 2.40 101.67
11/03/22 CD NA 0.00 NA NA NA
11/03/22 FC 154.51 37.17 31.80 20.58 85.55
14/03/22 OC 373.97 17.09 25.63 6.85 149.97
15/03/22 FC 121.63 35.07 50.00 41.11 142.57
17/03/22 FC 3696.93 236.53 236.80 6.41 100.11
22/03/22 FC 25.79 10.66 10.75 41.68 100.84
23/03/22 OC 35.19 16.35 15.37 43.68 94.01
12610.11 1316.11 1287.58 10.21 97.83
684901.27 131447.95 225293.76 32.89 171.39
Go to Table of Contents
Table 9: Status of Liquidation Processes as on March 31, 2022

Status of Liquidation
Initiated
Final Report submitted#
Closed by Dissolution
Closed by Going Concern Sale
Closed by Compromise / Arrangement
Ongoing##
> Two years
> One year ≤ Two years
> 270 days ≤ 1 year
> 180 days ≤ 270 days
> 90 days ≤ 180 days
≤ 90 days
*This excludes 13 cases where liquidation order has been set aside by NCLT / NCLAT / High Court/ Supreme Court.
# This includes cases where application for early dissolution has been filed with the NCLT.
## This includes 2 cases where CD has been sold as a going concern, however, submission of Final Report is awaited.
 Go To Table of Contents

Number
1609*
328
187
13
8
1281
659
312
73
69
98
70
High Court/ Supreme Court.
LT.
on of Final Report is awaited.
Table 10: Details of Closed Liquidations

Sl. No. Name of CD Date of Order of Amount of Liquidation

Liquidation Admitted Claims Value

Part A: Prior Period (Till December 31, 2021)

1 Shashi Oils and Fats Private Limited 21/01/20 49.71 3.13
2 Raipur Polymers Private Limited*** 10/08/21 8.74 0.98
3 Mahendrakumar Babulal Jewels Private Limited 17/09/19 24.19 NA
4 Sunder Agromills Private Limited* 23/12/21 22.27 NA
5 Kansal Building Solutions Private Limited** 06/02/20 26.49 13
Part B: January - March, 2022
1 J.R.Diamond Private Limited 01/10/18 10.41 1.23
2 Pradeep Downhole Equipments Private Limited 20/09/19 0.67 0.03
3 Nazar International Pvt. Ltd.*** 20/07/21 42.76 4.88

4 Ada Cellworks Wireless Engineering Private Limited 18/02/20 1.33 0.15

5 Sheth Metal Private Limited 07/01/19 148.24 2.93

6 Diabari Tea Co Ltd 11/03/20 76.9 NA
7 Servomax India Private Limited*** 04/02/19 794.15 30.96
8 SBQ Steels Limited 14/02/19 4697.27 322.85
9 Marvel Crafts Private Limited 15/07/19 1.23 0.03
10 VHR Enterprises Limited 09/01/20 86.02 0.45
11 Noesis Industries Limited 28/11/19 580.15 6.85
12 Vast Industries Private Limited 15/12/20 9.81 1.24

13 Shree Coke Manufacturing Company Private Limited 20/07/18 67.58 5.73

14 Goa Auto Accessories Limited 20/08/19 14.62 0.26

15 White & Brown Alloy Castings Private Limited 26/08/19 17.29 0.02
16 Visa international Limited*** 11/05/21 8143.17 8.82
17 BIW Fabricators Private Limited 22/11/19 32.92 7.56
18 Nova Steels (India) Limited 10/08/21 0.09 NA
19 Shree Saibaba Ispat (India) Private Limited 11/11/20 0.12 0
20 Windsor Papers Private Limited 16/02/21 0.01 NA
21 Bhaskar Shrachi Alloys Ltd*** 29/04/20 196.3 7.29
Total (January - March, 2022) 14921.04 401.28
Total (Till
* Direct March, 2022)
Dissolution; Claims pertain to CIRP period. 49161.99 1935.75

** Compromise or arrangement under section 230 of the Companies Act, 2013.

*** Sale as a going concern

NA means Not realisable/ saleable or No asset left for liquidation or Not applicable.
‘0’ means an amount below two decimals.
 Go To Table of Contents
(Amount in ₹ crore)
Sale Proceeds Amount Date of Order of
Distributed to Dissolution/Closure
Stakeholders
2021)
3.78 3.59 15/07/21
1.39 1.22 14/12/21
NA NA 21/12/21
NA NA 23/12/21
14.08 14.03 24/12/21

1.9 1.57 04/01/22

0.03 NA 07/01/22
5.5 5.08 13/01/22

0.09 NA 25/01/22

4.31 4 31/01/22
NA NA 31/01/22
53.17 48.3 07/02/22
270.39 261.38 11/02/22
0.14 0.03 15/02/22
0.02 NA 17/02/22
7.57 6.44 21/02/22
1.4 0.7 25/02/22

5.99 5.72 28/02/22

0.29 0.18 28/02/22

0.02 NA 28/02/22
9.22 8.38 03/03/22
6.69 6.02 09/03/22
NA NA 15/03/22
0 NA 16/03/22
NA NA 16/03/22
11.4 10.43 23/03/22
378.13 358.23 NA
1876.08 1801.74 NA
Table 11: Reasons for Liquidations

Circumstance

CoC decided to liquidate the CD during CIRP (u/s 33(2))

AA did not receive any resolution plan for approval (u/s 33(1)(a))

AA rejected the resolution plan for non-compliance with the requirements (u/s 33(1)(b))

CD contravened provisions of resolution plan (u/s 33(3))

Total

Circumstance
CoC decided to liquidate the CD during CIRP
(u/s 33(2))
AA did not receive any resolution plan for approval
(u/s 33(1)(a))
AA rejected the resolution plan for non-compliance with the requirements
(u/s 33(1)(b))
CD contravened provisions of resolution plan
(u/s 33(3))
Total
 Go to Table of Contents
Number of Liquidations
Where Final Reports Ongoing
Submitted
173 846 1019
148 385 533

7 40
47
0 10 10
328 1281

Total

1019

533

47

10
1609
Table 12: Claims in Liquidation Process
(Amount in ₹ crore)
Stakeholders under Number of Amount of Liquidation Amount Amount
Section Claimants claims Value Realised Distributed
Admitted
328 Liquidations where Final Report Submitted
52 31 1408.38 178.86 187.14 185.23
53 (1) (a) NA NA 135.27
53 (1) (b) 1794 56693.3 2275.22
53 (1) (c) 1339 57.84 1.86
53 (1) (d) 367 2887.98 41.91
2625.15 2509.63#
53 (1) (e) 268 2726.22 13.29
53 (1) (f) 1613 2570.77 36.18
53 (1) (g) 0 0 0
53 (1) (h) 122 36.74 2.83
Total (A) 5534 66381.23 2804.01 2696.77# 2691.79
Ongoing 1109 Liquidations*
53 (1) (a) NA NA
53 (1) (b) 40099 594157.49
53 (1) (c) 32422 1291.79
53 (1) (d) 12945 139469.73
53 (1) (e) 1312 35454.81 39279.05 **
Not Applicable Not Applicable
53 (1) (f) 1981105 43742.71
53 (1) (g) 19 357.58
53 (1) (h) 106101 3576.86
Total (B) 2174003 818050.97
Grand Total (A+B) 2179537 884432.2 42083.06
#
Inclusive of unclaimed proceeds of ₹ 4.98 crore under liquidation.
*Data for other liquidations are not available.
**Out of 1281 ongoing cases, liquidation values of only 1220 CDs are available. The aggregate
liquidation value of 826 CDs estimated during liquidation process is ₹ 39279.05crore and that of 394
CDs for which estimates made during CIRP is ₹ 9070.95 crore.
Go to Table of Contents
Table 13. Details of Avoidance Applications and Disposal
(Amount in ₹ crore)
Sl. No Nature of Applications Filed Applications Disposed
transactions
Number of Amount Number of Amount Amount
transactions involved transactions involved clawed back
1 Preferential 123 14435.39 20 518.45 29.17
2 Undervalued 15 884.31 1 351.64 0
3 Fraudulent 132 21759.68 10 353.96 3.69
4 Extortionate 3 70.68 - - -
5 Combination 504 183511.04 40 13881.95 16.58*
Total 777 220661.1 71 15106.00 49.44
*In addition, in the matter of Jaypee Infra, possession of 758 acres out of total 858 acres of land was
given back to the CD. The 858 acres of land was earlier valued at ₹ 5500 Crore.
Go to Table of Contents
Table 14: Twelve Large Accounts

Name of CD Claims of FCs Dealt Under Resolution

Amount Amount Realisation as %
Admitted Realised of Claims

Completed
Electrosteel Steels Limited 13175 5320 40.38
Bhushan Steel Limited 56022 35571 63.50
Monnet Ispat & Energy Limited 11015 2892 26.26
Essar Steel India Limited 49473 41018 82.91
Alok Industries Limited 29523 5052 17.11

Jyoti Structures Limited 7365 3691 50.12

Bhushan Power & Steel Limited 47158 19350 41.03
Amtek Auto Limited 12641 2615 20.68
Under Process
Era Infra Engineering Limited Under CIRP
Lanco Infratech Limited Under Liquidation
ABG Shipyard Limited Under Liquidation
Jaypee Infratech Limited The resolution plan of resolution applicant Suraksha Realty has been approved by t

Name of CD Realisation by
all Claimants as
a percentage of
Liquidation
Value

Jyoti Structures 387%

Essar Steel India 267%
Bhushan Steel 253%
Bhushan Power & Steel 209%
Electrosteel Steels 183%
Amtek Auto 170%
Monnet Ispat & Energy 123%
Alok Industries 115%
 (Amount in ₹ crore) Go to Table of Contents
Successful
Realisation by all Resolution Applicant
Claimants as a
percentage of
Liquidation Value

Completed
183.45 Vedanta Ltd.
252.88 Bamnipal Steel Ltd.
123.35 Consortium of JSW and AION Investments Pvt. Ltd.
266.65 Arcelor Mittal India Pvt. Ltd.
115.39 Reliance Industries Limited, JM Financial Asset Reconstruction
Company Ltd., JMFARC - March 2018 Trust
387.44 Group of HNIs led by Mr. Sharad Sanghi.
209.12 JSW Limited
169.65 Deccan Value Investors L.P. and DVI PE (Mauritius) Ltd.
Under Process

plicant Suraksha Realty has been approved by the CoC and awaits approval of the AA.
Table 15: Commencement of Voluntary Liquidations till March 31, 2022
(Number)
Period Liquidations at Liquidations Liquidation closed by
the beginning Commenced Withdrawal Final Reports
Submitted
2017 - 18 0 184 0 11
2018 - 19 173 232 6* 98
2019 - 20 301 274 1 135
2020 - 21 439 252 2 178
2021 - 22 511 281 3 222
Total NA 1223 12 644
*Vide order dated 2nd February, 2021, the Hon'ble NCLT has recalled its order dated 28th September
2018 which suspended the voluntary liquidation process of M/s Central Inland Water Transport
Corporation Limited.

Period Liquidations at Commenced Commenced Closed

the beginning
As on March 18 0 184 184 11
As on March 19 173 232 416 103
2019 - 20 302 274 690 135
2020-2021 441 251 941 178
Apr - Jun, 2020 514 37 978 34
Jul - Sep, 2021 517 75 1053 50
Oct-Dec, 2021 542 62 1115 45

Period Commenced Closed

As on March 18 184 11
As on March 19 416 114
2019 - 20 690 249
2020-2021 941 427
Apr - Jun, 2020 978 461
Jul - Sep, 2021 1053 511
Oct-Dec, 2021 1115 556
 (Number) Go to Table of Contents
Liquidations at
the end of
period
173
301
439
511
567
567
rder dated 28th September
l Inland Water Transport

Closed

11
114
249
427
461
511
556
Table 16: Status of Voluntary Liquidations as on March 31, 2022

Status No. of Liquidations

Initiated 1223
Closed by withdrawal 12
Final Report Submitted 644
Closed by Dissolution 324
Ongoing 567
> Two years 201
> One year ≤ Two years 114
> 270 days ≤ 1 year 29
> 180 days ≤ 270 days 62
> 90 days ≤ 180 days 62
≤ 90 days 99

Ongoing
> Two years 201
> One year ≤ Two years 114
> 270 days ≤ 1 year 29
> 180 days ≤ 270 days 62
> 90 days ≤ 180 days 62
≤ 90 days 99
Go to Table of Contents
Table 17: Reasons For Voluntary Liquidations
Go to Table of Contents
Sl. No. Reason for Voluntary Liquidation No. of Corporate
Persons
1 Not carrying business operations 725
2 Commercially unviable 149
3 Promoters unable to manage affairs 24
4 Purpose for which company was formed
accomplished / Contract Termination 31

5 Miscellaneous 94
Total 1023
Table 18: Details of 1211 Voluntary Liquidations (Excluding 12 Withdrawals)

Details of No. of Paid-up capital Assets

Liquidations
Liquidations for which Final Reports submitted 644 3476* 4473
Ongoing Liquidations 567 3690# 1918#
Total 1211 7166 6391
* Paid up capital is not available in case of two companies as they are limited by guarantee companies.
**For ongoing liquidations, outstanding debt amount is not available.
# Paid up capital and assets of 404 and 394 cases, respectively, are available.
## Details regarding five cases not available
 (Amount in ₹ crore) Go to Table of Contents
Outstanding Amount paid to Surplus##
debt creditors
31## 31## 4011##
**
**
Table 19: Realisations under Voluntary Liquidation

Sl. No. Name of Corporate Person Date of Date of

Commencement Dissolution
Part A: Prior Period (Till December 31, 2021)
1 Mannil Property & Development Corporation Limited 5/25/2021 12/1/2021
2 Medanta Duke Research Institute Private Limited 9/24/2019 12/20/2021
3 Global Wireless Application Services Private Limited 2/26/2020 12/21/2021
4 Dalco Enginering Pvt Ltd 4/8/2019 12/24/2021
5 Analytix Data Services Private Limited 12/24/2019 12/31/2021
Part B: January - March, 2022
1 Daiichi Sankyo India Pharma Private Limited 9/7/2017 1/6/2022
2 ZTE India Randd Center Private Limited 10/1/2019 1/6/2022
3 Common Room Non Profit Foundation For New Entrepreneur 3/25/2021 1/12/2022
4 Uttam Singh Dugal & Sons (Construction) Private Limited 4/4/2019 1/13/2022
5 Tefal India Household Appliances Private Limited 10/23/2020 1/18/2022
6 Lambodar Fiscal Services Pvt Ltd 10/12/2020 1/24/2022
7 Grewal Estates Pvt.Ltd. 2/18/2019 1/31/2022
8 Rosti Technical Plastics (India) Private Limited 4/12/2019 2/3/2022
9 JayselFincap Private Limited 2/12/2021 2/3/2022
10 Shreyansh Professionals Limited 8/13/2020 2/7/2022
11 Kerala Gail Gas Limited 12/28/2020 2/9/2022
12 Capita IT and Consulting India Private Limited 11/14/2018 2/10/2022
13 Zipsure General Insurance Limited 2/23/2020 2/10/2022
14 Capital Safety Products India Private Limited 3/20/2020 2/11/2022
15 Radha Madhav Exim Limited 1/6/2020 2/14/2022
16 Hanuman Tradelink Private Limited 1/11/2021 2/14/2022
17 Hitech Metalplast Limited 1/24/2020 2/18/2022
18 Shivalik Medico Private Limited 10/12/2020 2/24/2022
19 Perk.Com Software Private Limited 9/24/2020 2/25/2022
20 Dyno-Enpro Oil Field Chemicals Private Limited 9/30/2020 2/25/2022
21 NIIT Yuva Jyoti Limited 2/19/2020 2/25/2022
22 Igarashi Motors Sales Private Limited 7/24/2021 3/1/2022
23 Leather Cluster Development Limited 6/28/2021 3/2/2022
24 HMT Chinar Watches Limited 3/25/2019 3/10/2022
25 United Equity Private Limited 9/23/2019 3/10/2022
26 Taconic Biosciences India Private Limited 10/12/2018 3/11/2022
27 Shaldor India LLP 9/10/2020 3/11/2022
28 Equant India Private Limited 4/16/2019 3/14/2022
29 Nirmala Books Private Limited 7/28/2021 3/15/2022
30 Gujarat Arogya Seva Private Limited 9/25/2019 3/16/2022
31 Jumoworld India Private Limited 2/15/2021 3/16/2022
32 Sakhi Resorts and Farmlands Private Limited 2/11/2019 3/17/2022
33 Geocloudio Technologies Private Limited 10/28/2020 3/17/2022
34 A.B.S. Enterprises Private Limited 7/2/2020 3/23/2022
 35 Joginder Coal Transport Private Limited 6/6/2017 3/24/2022
36 Maharishi Gramin Micro Finance Private Limited 3/27/2019 3/29/2022
Total (January - March, 2022)
Total (Tillan
‘0’ means March,
amount2022)
below two decimals.

‘-‘ means no value.

 (Amount in ₹ crore)
Realisation of Amount due to Amount paid to Liquidation Surplus Go to Table of Contents
Assets Creditors Creditors Expenses
cember 31, 2021)
0.97 - - 0.06 0.91
0.60 - - 0.05 0.55
0.42 - - 0.03 0.38
6.83 - - 1.21 5.62
0.21 - - 0.21 -
rch, 2022
273.64 2.35 2.35 29.80 241.49
8.56 - - 0.24 8.32
0 - - 0 -
0.52 - - 0.15 0.37
1.05 - - 0.13 0.92
1.43 - - 0.04 1.39
26.55 7.34 7.34 0.10 19.11
0.04 - - 0.04 -
2.06 - - 0.01 2.05
0.44 0 0 0.05 0.39
3.53 0.02 0.02 0.21 3.30
0.58 - - 0.03 0.55
0.05 - - 0.01 0.04
0.11 - - 0.11 -
6.23 - - 0.27 5.96
0.43 - - 0.04 0.39
0.11 - - 0.07 0.04
0.45 - - 0.05 0.40
1.65 - - 0.44 1.21
0.29 - - 0.03 0.26
0.57 0.05 0.05 0.06 0.46
19.71 0.06 0.06 0.09 19.56
0.30 - - 0.02 0.28
8.04 0.1 0.1 0.19 7.75
1.62 - - 0.02 1.60
0.51 0.12 0.12 0.39 -
0.23 - - 0.04 0.19
0.44 - - 0.08 0.36
0.54 - - 0.04 0.50
2.69 0.01 0.01 0.05 2.63
0.65 - - 0.19 0.46
0.62 0.01 0.01 0.01 0.60
0.12 - - 0.11 0.01
1.07 - - 0.10 0.97
 0.06 - - 0.03 0.03
0.02 - - 0.01 0.01
364.91 10.06 10.06 33.25 321.62
3293.50 21.65 21.65 70.60 3201.22
Table 20: Average Time for approval of Resolution Plans / Orders For Liquidation

Sl. No. Average time As on March, 2020

No. of Processes Time (In days)
covered Including
excluded time

CIRPs
1 From ICD to approval of resolution plans by AA 235 408
2 From ICD to order for Liquidation by AA 939 309
Liquidations
3 From LCD to submission of final report under Liquidation 126 307
4 From LCD to submission of final report under Voluntary Liquidation 244 319
5 From LCD to order for dissolution under Liquidation 71 284
6 From LCD to order for dissolution under Voluntary Liquidation 142 453
n March, 2020 As on March, 2021 April, 2021 to March, 2022 Go to Table of Contents
Time (In days) No. of Time (In days) No. of Time (In days)
Excluding
Processes Including Excluding
Processes Including Excluding
excluded time covered excluded time excluded time covered excluded time excluded time

IRPs
372 355 464 404 125 711 581
NA 1290 352 NA 318 654 NA
idations
NA 256 418 NA 328 456 NA
NA 422 381 NA 644 422 NA
NA 145 401 NA 208 482 NA
NA 233 515 NA 324 582 NA
Table 21: Corporate Liquidation Accounts as on March 31, 2022
(Amount in ₹ lakh)
Name of Account Opening Balance Deposit during the Withdrawn during Balance at the end
period the period of the period
Corporate Liquidation Account
2019 - 20 0.00 476.26 0.21 476.05
2020 - 21 476.05 116.18 0.00 592.23
2021 - 22 592.23 25.93 4.84 613.32
Corporate Voluntary Liquidation Account
2019 - 20 0.00 109.70 0.00 109.70
2020 - 21 109.70 112.06 0.00 221.76
2021 - 22 221.76 127.94 0.03 349.67
Go to Table of Contents
Table 22: Insolvency Resolution Of Personal Guarantors

Period Applications filed by Total

Debtor By Creditor
(u/s 94) (u/s 95)
Number Debt Amount Guarantee Amount Number Debt Guarantee Number
Amount Amount
2019 - 20 3 49.66 40.75 16 3256.87 4,454.83 19
2020 - 21 18 1875.65 608.75 191 36415.25 26029.11 209
2021 - 22 61 2668.61 1165.44 637 55984.47 41188.71 698
Total 82 4593.92 1814.94 844 95656.59 71672.65 926
Note:
The data are provisional. These are getting revised on continuous basis as further information is received.
NA: Not Available.
Debt data not available in 110 cases and Guarantee data not available in 326 cases.
Guarantee amount has been collated from the annexures of the applications, wherever available.
 (Amount in ₹ crore) Go to Table of Contents
Total Adjudicating
Authority

Debt Guarantee NCLT DRT

Amount Amount
3306.53 4495.58 18 1
38290.9 26637.86 203 6
58653.08 42354.15 687 11
100250.51 73487.59 908 18
Table 23: Registered IPs and AFAs as on March 31, 2022
(Number)
City / Region Registered IPs IPs having AFA
IIIPI ICSI IIP IPA ICAI Total IIIPI ICSI IIP
New Delhi 455 272 88 815 274 179
Rest of Northern Region 483 207 73 763 282 126
Mumbai 409 149 39 597 241 86
Rest of Western Region 337 125 45 507 217 84
Chennai 145 86 18 249 80 57
Rest of Southern Region 411 224 81 716 238 138
Kolkata 220 38 24 282 146 25
Rest of Eastern Region 78 28 9 115 47 17
Total Registered 2538 1129 377 4044 1525 712
 (Number) Go to Table of Contents
IPs having AFA
IPA ICAI Total
55 508
41 449
27 354
26 327
9 146
57 433
15 186
6 70
236 2473
Table 24: Registration and Cancellation of Registrations of IPs

Year / Quarter Registered at Registered Cancelled during the period on account of

the beginning during the Disciplinary Failing to Meet Death
of the period period Process Eligibility Norms
2016 - 17 (Nov - Dec) # 0 977 0 0 0
2016 - 17 (Jan - Mar) 0 96 0 0 0
2017 - 18 96 1716 0 0 0
2018 - 19 1812 648 4 0 0
2019 - 20 2456 554 0 1 5
2020 - 21 3004 506 0 1 5
2021 - 22 3504 549 1 0 8
Total NA 4069 5 2 18
#
Registrations with validity of six months. These registrations expired by June 30, 2017.
 (Number) Go to Table of Contents
Registered at
the end of the
period
977
96
1812
2456
3004
3504
4044
4044
Table 25: Distribution of IPs as per their eligibility as on March 31, 2022
Go to Table of Conten
Eligibility No. of IPs
Male Female Total
Member of ICAI 2038 193 2231
Member of ICSI 575 121 696
Member of ICMAI 183 18 201
Member of Bar Council 219 30 249
Managerial Experience 626 25 651
GIP Qualified 15 1 16
Total 3656 388 4044
Go to Table of Contents
Table 26: Age profile of IPs as on March 31, 2022

Age Group (in years) Registered IPs IPs having AFA

IIIPI ICSI IIP IPA ICAI Total IIIPI
≤ 30 7 7 0 14 4
> 30 ≤ 40 280 77 15 372 173
> 40 ≤ 50 907 382 57 1346 581
> 50 ≤ 60 761 311 92 1164 457
> 60 ≤ 70 538 310 196 1044 310
> 70 ≤ 80 42 36 14 92 NA
> 80 ≤ 90 2 6 3 11 NA
> 90 1 0 0 1 NA
Total 2538 1129 377 4044 1525
NA: Not Applicable
 (Number) Go to Table of Contents
IPs having AFA
ICSI IIP IPA ICAI Total
2 0 6
57 8 238
258 32 871
205 55 717
190 141 641
NA NA NA
NA NA NA
NA NA NA
712 236 2473
Replacement
of RP
(all cases)
Table 27: Replacement of IRP with RP as on March 31, 2022
Go to Table of Contents
CIRP initiated by No. of CIRPs

Where RP is different Where RPs have been

from the IRP appointed
CD 117 291 ###
OC 610 1857 ###
FC 396 1895 ###
Total 1123 4043 ###
Table 28: IPEs as on March 31, 2022
Go to Table of Contents
Quarter No. of IPEs
Recognised Derecognised At the end of the
Period
2016 - 17 (Jan - Mar) 3 0 3
2017 - 18 73 1 75
2018 - 19 13 40 48
2019 - 20 23 2 69
2020 - 21 14 0 83
2021 - 22 10 2 91
Total 136 45 91
Table 29: Activities by IPAs

Period Number of
Pre-registration CPE Programmes Training Other Workshops/
Courses conducted conducted Workshops for Ips Webinars/
Roundtables/
seminars

2018 - 19 16 - 7 100
2019 - 20 11 30 9 157
2020 - 21 14 193 66 102
2021 - 22 13 133 56 81
Total 54 356 138 440
 Go to Table of Contents

Disciplinary Complaints
Orders Issued forwarded by
IBBI disposed

4 11
9 127
42 102
23 12
78 252
Table 30: CPE hours earned by the IPs
Go to Table of Con
Period Number of CPE Hours earned by members of
IIIPI ICSI IIP IPA ICAI Total
2019 - 20 1160 695 320 2175
2020 - 21 18465 8746 4647 31858
2021 - 22 14123 7890 3872 25885
Total 33748 17331 8839 59918
Average CPE hours per registered IP 13.29 15.35 23.45 14.82
Go to Table of Contents
Note: Authenticated records and amount inludes deemed authentication.
Table 31: Details of information with NeSL

At the end of Year /

Month Creditors having Debtors whose
Creditors who have
agreement with information is submitted
submitted information
NeSL by

FCs OCs
FCs OCs FCs OCs

2018 - 19 173 NA 114 169 1266445 230

2019 - 20 267 NA 381 543 6551739 6191
2020 - 21 289 NA 621 675 8988348 9066
2021 - 22 347 NA 692 779 9494394 3312
NA: Not Available

No. of Loan No. of

At the end of Year /
FCs OCs records on- FCs OCs debtors
Month
boarded registered
2018 - 19 19.55 0.00 19.56 41.15 0.16 0.15
2019 - 20 94.17 1.68 94.17 78.74 0.32 0.73
2020 - 21 107.22 2.05 145.60 98.56 0.33 1.39
Jun, 2021 121.27 2.07 156.06 122.99 0.34 1.53
Sep, 2021 136.66 2.54 120.51 128.75 0.36 1.68
Dec,2021 128.39 1.96

2018 - 19 0.15
2019 - 20 0.73
Jun, 2020 1.07
Sep, 2020 1.21
Dec, 2020 1.30
Mar, 2021 1.40
Jun, 2021 1.53
 (Number, except as stated)
User Loan records authenticated by No. of Defaults
Amount of underlying registrations debtors authenticated
Loan records (debtors) by debtors
debt
on-boarded by
(₹ crore)

FCs OCs FCs OCs No. of Debtors No. of Records Value

(₹ crore)
1955230 316 4114988 16224 15148 13799 48,428 54
9417317 167719 7873689 31910 73332 109726 118428 240075
14565545 292206 13195075 36770 139980 283839 499957 442584
14039325 185166 14539538 42894 241753 514932 682369 299584

Value of
No. of records
records authenticate
authenticate d
d (Amt. in ₹
0.14 lakh crore)
0.48
1.09 1.18
2.83 4.99
3.46 4.86
4.07 5.79
4.62 6.90
Go to Table of Contents
Table 32A: Registered Valuers as on March 31, 2022
(Numb
Registered Valuer Organisation Asset Class
Land & Building Plant & Securities or
Machinery Financial Assets
RVO Estate Managers and Appraisers Foundation 72 14 14
IOV Registered Valuers Foundation 1383 219 158
ICSI Registered Valuers Organisation 0 0 217
IIV India registered Valuers Foundation 160 46 51
ICMAI Registered Valuers Organisation 31 25 277
ICAI Registered Valuers Organisation NA NA 908
PVAI Valuation Professional Organisation 307 53 123
CVSRTA Registered Valuers Association 204 60 NA
Association of Certified Valuators and Analysts NA NA 2
CEV Integral Appraisers Foundation 107 34 3
Divya Jyoti Foundation 55 18 42
Nandadeep Valuers Foundation 1 0 1
All India Institute of Valuers Foundation 7 3 16
International Business Valuers Association 3 0 9
All India Valuers Association 1 0 0
Assessors and Registered Valuers Foundation 7 2 4
Total 2338 474 1825
Note: NA signifies the RVO is not recognised for that asset class
 (Number) Go to Table of Contents
Total

100
1760
217
257
333
908
483
264
2
144
115
2
26
12
1
13
4637
Table 32B: Registered Valuers (Entities) as on March 31, 2022
(Num
Registered Valuer Organisation Entities Registered Registration in the Asset Class
Land & Building Plant & Machinery

RVO Estate Managers and Appraisers Foundation 4 3 2

IOV Registered Valuers Foundation 22 17 15
ICSI Registered Valuers Organisation 2 0 0
IIV India registered Valuers Foundation 2 2 2
ICMAI Registered Valuers Organisation 11 5 5
ICAI Registered Valuers Organisation 11 0 0
PVAI Valuation Professional Organisation 2 2 2
CVSRTA Registered Valuers Association 1 1 1
CEV Integral Appraisers Foundation 1 1 1
Divya Jyoti Foundation 2 1 1
All India Institute of Valuers Foundation 1 1 1
International Business Valuers Association 4 4 4
Total 63 37 34
Note: NA signifies the RVO is not recognised for that asset class
 (Number) Go to Table of Contents
in the Asset Class
Securities or
Financial Assets
3
19
2
1
11
11
2
0
0
2
1
3
55
Table 33: Registration of RVs till March 31, 2022
(Number) Go to Table of Content
Year / Quarter Land & Building Plant & Securities or Total
Machinery Financial Assets
2017 - 2018 0 0 0 0
2018 - 2019 781 121 284 1186
2019 - 2020 848 204 792 1844
2020 - 2021 409 82 446 937
2021 - 2022 302 67 303 672
Total 2340 474 1825 4639
Note: The registration of 2 RVs has since been cancelled.
Go to Table of Contents
Table 34: Region Wise Registered Valuers as on March 31, 2022
(Number) Go to Table of Contents
City / Region Land & Plant & Securities or Total
Building Machinery Financial
Assets
New Delhi 79 34 218 331
Rest of Northern Region 364 74 313 751
Mumbai 112 51 281 444
Rest of Western Region 652 126 298 1076
Chennai 114 42 138 294
Rest of Southern Region 952 123 439 1514
Kolkata 27 17 105 149
Rest of Eastern Region 39 7 32 78
Total 2338 474 1825 4637
Table 35: Age profile of RVs as on March 31, 2022
(Number) Go to Table of Contents
Age Group Land & Building Plant & Securities or Financial Total
(in years) Machinery Assets
≤ 30 179 8 131 318
> 30 ≤ 40 379 67 728 1174
> 40 ≤ 50 543 103 532 1178
> 50 ≤ 60 934 148 290 1372
> 60 ≤ 70 263 100 139 502
> 70 ≤ 80 38 46 5 89
> 80 2 2 0 4
Total 2338 474 1825 4637
Go to Table of Contents