Q. As of 2022, what is the average time of conclusion of Corporate Insolvency Resolution Processes (CIRPs) in India?
Answer:
428 days
Notes: As per recent data, as many as 1,703 Corporate Insolvency Resolution Processes (CIRPs) ended up in liquidation orders till June 2022. The processes took an average of 428 days for liquidation.
The Insolvency and Bankruptcy Board of India (IBBI) has amended regulations to allow sale of one or more assets of an entity undergoing insolvency resolution process. The amendments aim to provide better market-linked solutions for stressed companies.