Since the inception of the provisions for corporate insolvency resolution process (CIRPs) on December 1, 2016, a total of 4,008 CIRPs across various sectors had commenced as of September-end 2020. Of these, 473 have been closed on appeal or review or settled, 291 have been withdrawn, 1,025 have ended in orders for liquidation, and 277 have ended in approval of resolution plans. At present 1,942 CIRPs remain, for which banks and operational creditors are seeking resolution.Read More
With Modi 2.0, India can expect the steady momentum that the real estate sector has been regaining in recent times to not only maintain its pace but pick up speed. Some of this government’s initiatives will now doubtlessly sail through to the final stage of their journey.