18,782 cases filed under Insolvency & Bankruptcy Code

As on 30th June, 2019, a total of 18,782 cases have been filed under Insolvency and Bankruptcy Code (IBC), 2016, of which 2,173 cases have been admitted under IBC. Out of 2,173 admitted cases, 1,274 cases were ongoing under different stages of resolution process, 129 cases have resulted in resolution, 491 cases have been approved for commencement of liquidation process, 279 cases have been closed by appeal/review/settlement/withdrawn u/s 12A of IBC. The action is taken as per the provisions of the IBC in all the cases admitted under the IBC.

This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.