However, a large number — 378 — ended in liquidation with around 94 settling for a resolution plan. Thus, around 52.87 per cent of the cases were liquidated compared with 13.14 per cent ending with a resolution plan. Of these, the resolution plan of six debtors have been approved. While the insolvency process had to be restarted for Amtek Auto because of the failure to implement the resolution plan, other accounts are at different stages of the process. Of the total of 1,858 cases admitted, a bulk (772) came from the manufacturing sector.

Source: The Telegraph May 01, 2019 18:45 UTC