Creditors have recovered Rs 3.58 lakh crore through resolution of 1,119 cases under the insolvency law till 31 December 2024.

Minister of state for corporate affairs Harsh Malhotra, quoting data from the Insolvency and Bankruptcy Board of India,  told Rajya Sabha on Tuesday that 2,707 cases have ended in liquidation orders.

"As per information provided by Insolvency and Bankruptcy Board of India (IBBI), till 31st December 2024, 1,119 cases have yielded resolution plans. In these cases, the realisable value for the creditors has been Rs 3.58 trillion," he said in a written reply.

Final reports have been submitted in 1,274 cases, in which the creditors have realised Rs 0.13 trillion, the minister added.

 According to him, information in respect of amount waived/ forgone in pursuance to the settlement is not maintained.

"Realisation under the Insolvency and Bankruptcy Code (IBC) process is market driven and is inter-alia dependent on the quality of assets at the time of resolution. Therefore no cap on resolution amount is envisaged.

"Further, data related to realisation by banks under the IBC process is not maintained," Malhotra said.