Rs 2.45 trillion was recovered through 3 resolution plans under IBC

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MUMBAI: Lenders, including banks, have repaid Rs 4.5 trillion through a resolution plan approved for six corporate insolvency resolution cases under the Insolvency and Bankruptcy Code (IBC) by June 30, the finance ministry said.

Through approved plans of the top 100 corporate insolvency resolution process, lenders have received Rs 4.5 trillion, which is about 5 per cent of the approved claims.

As many as 40 cases have been filed under the IBC for the corporate insolvency resolution process till June 30, 2021, said Finance Minister Pankaj Chaudhary in reply to a question in the Lok Sabha.

He also said in reply to another question that Rs 216 crore was recovered under a separate resolution framework for lenders providing financial services other than banks.

However, in some cases, it is the lender's turn to accept 30 to 40 percent of the haircuts.

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