Tag: CIRP

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RBI Report: Creditors Recovered ₹4 Lakh Cr via IBC by Sept 2025

MUMBAI: According to a Reserve Bank report released Wednesday, creditors have recovered ₹4 lakh crore under resolution plans initiated under the Insolvency and Bankruptcy Code (IBC) as of September 30, 2025. Since the introduction of corporate insolvency resolution processes in December 2016, a total of 8,659 Corporate Insolvency Resolution Processes (CIRPs) have been initiated, with 6,761 (or 78.1%) successfully completed by September 30, 2025. The IBC primarily aims to assist corporate debtors (CDs) in distress. During the period from April to September 2025, the code aided 187 CDs, bringing the total number of aided debtors to 3,865 since the IBC’s…

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Bankruptcy Court Approves Ansal API Affiliate for Insolvency

The National Company Law Tribunal (NCLT) has initiated the corporate insolvency resolution process (CIRP) for Katra Realtors, following a petition filed by IL&FS Financial Services Ltd. Situated in Delhi, Katra Realtors had acted as a corporate guarantor for Ansal Properties and Infrastructure (Ansal API), which is presently undergoing insolvency proceedings. Ansal API has acknowledged liabilities exceeding Rs 571 crore, and IL&FS Financial Services sought recourse against Katra Realtors due to its corporate guarantee of approximately Rs 23 crore towards Ansal API. The NCLT division, comprised of judicial member Manni Sankariah Shanmuga Sundaram and technical member Atul Chaturvedi, ruled that concurrent…