Number of cases admitted under insolvency saw a rise in Sep quarter

The number of insolvency cases admitted by the bankruptcy court continued to stay elevated, with 369 companies alone admitted in the Sept quarter.

The number of insolvency cases admitted by the bankruptcy court continued to stay elevated, with 369 companies alone admitted in the September quarter.  

The March quarter of FY19 had seen the highest number (374) taken by the Benches of the National Company Law Tribunal (NCLT), revealed data by the Insolvency and Bankruptcy Board of India (IBBI). The number of firms to go for liquidation in Q2FY20 stood at 96.

Operational creditors have triggered 48.5 per cent of the corporate insolvency resolution processes (CIRPs) so far, followed by 43 per cent by financial creditors. 

The Insolvency and bankruptcy code (IBC), under