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INSOLVENCY AND BANKRUPTCY NEWS

Figure 3: Sectoral Distribution of CIRPs: Admission Figure 6: Sectoral Distribution of CIRPs:
Commencement of Liquidation

Retail T rade T ransport 3% Hotels 2% Construc- T ransport 4% Hotels 2%
10%
tion 7%
Electricity 3%
Electricity 3%
Construction 11% Manufacturing 40% Others 12% Manufacturing 43%

Others 11% % 0 2 e t a Rea l s E t Retail T rade 12%

%
7
1 e t a
Rea l s E t
The distribution of stakeholder-wise initiation of CIRPs is presented in Figure
Figure 4: Sectoral Distribution of CIRPs:
Appeal/Review/Settled/Withdrawn 7. OCs triggered 51.33% of the CIRPs, followed by 42.53% by FCs and
remaining by the CDs. However, about 80% of CIRPs having an underlying
default of less than ` 1 crore were initiated on applications by OCs while
about 80% of CIRPs having an underlying default of more than ` 10 crore
Retail T rade Hotels 3% T ransport 2% Electricity 2% were initiated on applications by FCs. The share of CIRPs initiated by CD is
declining over time. They usually initiate CIRPs with very high underlying
8% defaults.
Others 9% Manufacturing 38% Figure 7: Stakeholder-wise Distribution
and Trends of Initiation of CIRPs
2699
2257
2236
Construction 13% 1691
1939
1889

887
809
%
5
2
Real Es a t e t
317 277 319
293 204 255
133
7 8 22
2016 - 17 2017 - 18 2018 - 19 2019 - 20 2020 - 21 2021-22
Operational Creditors Financial Creditors Corporate Debtors
Figure 5: Sectoral Distribution of CIRPs:
Resolution Plan Note: This excludes cases wherein applications filed by RBI were admitted u/s 227 of the Code.
The outcome of CIRPs, initiated stakeholder-wise, as on March 31, 2022 is
presented in Figures 8-10. Of the closed, OC initiated CIRPs, about 52%
of CIRPs were closed on appeal, review, or withdrawal. Such closures
accounted for about 71% of all closures by appeal, review, or withdrawal.
Retail 6% Electricity 6% Hotels 3% T ransport 2% Figure 8: Distribution of Closed CIRPs - Initiated by CDs
T rade
Commencement
Construction 10% of Liquidation
75%
Others 9% Manufacturing 51% 2%
Appeal/
Review/
20% Settled
%
3%
3
1

Withdrawal
e
t
a
t
s
u/s 12A
E l a
e
R
Approval of
Resolution Plan
13