Page 16 - IBBI

INSOLVENCY AND BANKRUPTCY NEWSVENCY AND BANKRUPTCY NEWS
INSOL
During January - March, 2022, 29 CIRPs yielded resolution plans with aside. Till March 31, 2022, realisation by FCs under resolution plans in
different degrees of realisation as compared to the liquidation value as comparison to liquidation value is 171.39%, while the realisation by them
presented in Part B of Table 1. In 19 CIRPs which had yielded resolution in comparison to their claims is 32.89%. It is important to note that out of
earlier were ordered for liquidation or the resolution orders were set the 480 CDs rescued through resolution plans, 159 were in either BIFR or
defunct.
Table 1: CIRPs Yielding Resolution Plans
Sl. Name of CD Defunct Date of Date of CIRP Amount (in ` crore) Realisable by Realisable by
No. (Yes/No) Commencement Approval of initiated Admitted Liquidation Realisable FCs as % of FCs as % of
of CIRP Resolution by Claims of Value by FCs Admitted Liquidation
Plan FCs Claims Value
Part A: For Prior Period (Till December 31, 2021)
1 Unnati Fortune Hotmart Private Limited No 11-06-19 20-05-21 FC 50.22 26.70 31.26 62.25 117.09
2 Alekhya Drugs Private Limited No 11-12-19 03-09-21 OC 14.10 20.69 14.10 100.00 68.13
3 Universal Industrial Equipment and Technical Services Private Limited No 18-12-19 07-10-21 OC 72.75 13.50 12.83 17.63 95.02
4 Exclusife Technosoft Private Limited No 01-09-20 29-10-21 OC 6.81 1.96 0.00 0.06 0.19
5 S K Wheels Private Limited* NA 29-03-19 09-11-21 FC - - - -
6 Goa Invescast Limited Yes 04-07-19 09-11-21 OC 4.00 4.17 2.75 68.70 65.95
7 SPS Metal Cast and Alloys Limited Yes 25-06-19 25-11-21 OC 754.92 10.85 11.75 1.56 108.29
8 Atlantic Projects Limited No 15-10-19 25-11-21 FC 153.11 3.93 4.40 2.87 111.96
9 The National Sewing Thread Company Limited No 29-08-19 06-12-21 FC 129.08 22.05 20.08 15.56 91.07
10 Shaifali Steels Limited No 17-12-19 13-12-21 OC 104.89 6.59 7.75 7.39 117.60
11 Panacealife Healthzone Private Limited No 03-09-20 14-12-21 FC 4.82 5.84 4.00 82.99 68.49
12 Ambient Computronics Private Limited No 10-12-20 14-12-21 OC 0.00 0.41 0.00 NA NA
13 Solo Metals Private Limited Yes 17-12-19 24-12-21 OC 37.67 5.04 5.15 13.67 102.18
Part B: For January - March, 2022
1 AP Gems and Jewellary Pack Private Limited No 04-06-19 03-01-22 FC 57.69 91.35 25.00 43.33 27.37
2 Astoneld Solar (Gujarat) Private Limited No 20-11-18 03-01-22 CD 78.08 28.77 24.5 31.38 85.15
3 Hail Tea Limited No 21-01-20 03-01-22 OC 14.43 4.79 10.00 69.30 208.77
4 India Stuffyarn Limited Yes 11-03-21 04-01-22 OC 0.00 0.00 0.00 NA NA
5 Real Strips Limited No 09-03-21 04-01-22 FC 95.04 83.01 77.10 81.12 92.88
6 COVIDH Technologies Limited Yes 07-01-21 10-01-22 OC 0.00 0.01 0.00 NA NA
7 S.V.E.C. Constructions Limited Yes 08-01-21 10-01-22 FC 617.42 4.02 5.50 0.89 136.82
8 Narayani Steels Limited No 24-03-21 11-01-22 FC 296.13 17.37 27.62 9.33 159.01
9 Cura Healthcare Private Limited Yes 10-12-19 13-01-22 OC 16.01 9.93 8.50 53.09 85.60
10 Mather Projects Private Limited No 30-11-18 18-01-22 FC 90.11 115.64 87.32 96.91 75.51
11 Vardhman Buildtech Private Limited* NA 29-01-19 28-01-22 FC - - - - -
12 Regen Powertech Private Limited No 13-12-19 01-02-22 OC 1306.40 137.12 160.00 12.25 116.69
13 Shiva Medicare Limited No 14-12-20 07-02-22 FC 1.92 0.00 0.69 35.91 468233.47
14 Jharkhand Mega Food Park Private Limited No 10-01-20 10-02-22 FC 49.64 14.98 20.00 40.29 133.51
15 Utech Engineering Work (India) Private Limited No 25-06-19 11-02-22 OC 13.61 2.75 12.00 88.17 436.36
16 Krishna Ferro Product Limited Yes 04-10-19 15-02-22 OC 52.92 1.80 2.45 4.63 136.11
17 Coastal Oil & Gas Infrastructure Private Limited Yes 26-02-21 16-02-22 FC 1197.85 36.47 36.63 3.06 100.44
18 Kariwala Designers Private Limited Yes 24-10-19 17-02-22 OC 4.13 3.54 3.40 82.32 96.05
19 Ideal Energy Projects Limited No 28-01-20 01-03-22 FC 3188.31 356.13 360.00 11.29 101.09
20 Tayal Foods Limited Yes 03-10-19 02-03-22 FC 12.32 1.00 2.68 21.75 268.00
21 Om Besco Rail Products Limited No 20-05-20 08-03-22 OC 68.12 29.97 28.84 42.34 96.23
22 Bartronics India Limited No 02-12-19 10-03-22 FC 1041.95 24.59 25.00 2.40 101.67
23 Kanishkdeep Stock Consultants Private Limited Yes 09-02-21 11-03-22 CD NA 0.00 NA NA NA
24 Deegee Cotsyn Private Limited No 26-02-19 11-03-22 FC 154.51 37.17 31.80 20.58 85.55
25 D Thakkar Construction Private Limited No 27-03-19 14-03-22 OC 373.97 17.09 25.63 6.85 149.97
26 M Tech Developers Private Limited No 12-11-20 15-03-22 FC 121.63 35.07 50.00 41.11 142.57
27 Kudos Chemie Limited Yes 05-07-19 17-03-22 FC 3696.93 236.53 236.80 6.41 100.11
28 Trimurti Concast Private Limited No 24-12-19 22-03-22 FC 25.79 10.66 10.75 41.68 100.84
29 Siva Ram Yarns Private Limited No 15-11-19 23-03-22 OC 35.19 16.35 15.37 43.68 94.01
Total (January – March, 2022) 12610.11 1316.11 1287.58 10.21 97.83
Total (Till March, 2022) 684901.27 131447.95 225293.76 32.89 171.39
Note: * Data awaited
Liquidation Figure 15: Timeline: Ongoing Liquidations
51%
Till December, 2021, a total of 1514 CIRPs had yielded orders for
liquidation, as presented in the previous Newsletter. 25 more CIRPs were
later reported as yielding orders for liquidation during that period. During
the quarter January - March, 2022, 70 CIRPs ended in orders for
liquidation, taking the total CIRPs ending in liquidation to 1609, excluding 24%
13 cases where liquidation orders have been set aside by NCLT / NCLAT /
HC/ SC. Of these, nal reports have been submitted in 328 cases. There
are 1281 ongoing liquidation processes, whose status as on March 31, 2022 8%
is presented in Figure 15. 6% 6%
5%

>Two > One > 270 > 180 days > 90 days ≤ 90 days
years year days ≤ 270 days ≤ 180 days
≤ Two ≤ 1 year
years

15