IBBI notifies fast track insolvency resolution process for corporate persons

Process to be completed within 90 days

by Janhavi Behere

The Insolvency and Bankruptcy Board of India (IBBI) has notified the fast track insolvency resolution process for corporate persons. The process in such cases shall be completed within a period of 90 days, as against 180 days in other cases. However, the adjudicating authority has been given the power to extend the period of 90 days by a further period up to 45 days for completion of the process, if needed. The fast track process shall apply for a small company, a start-up and an unlisted company which has total assets not exceeding Rs.1 million. After a creditor or a corporate debtor submits an application, the interim resolution professional (IRP) is appointed. If the IPR sees no merit for fast-tracking the process, he shall file an application before expiry of 21 days from the date of his appointment.

References
1. http://pib.nic.in/newsite/erelcontent.aspx?relid=165677
CMIE STATISTICS
Unemployment Rate
Per cent
6.2 -0.0
Consumer Sentiments Index
Base September-December 2015
93.5 0.0
Consumer Expectations Index
Base September-December 2015
93.9 0.0
Current Economic Conditions Index
Base September-December 2015
92.8 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.33 1.38 1.24 2.15
Completed projects 0.87 1.21 1.02 1.07
Stalled projects 2.67 0.69 0.93 3.34
Revived projects 0.30 0.34 0.23 0.14
Implementation stalled projects 0.73 0.72 0.58 1.05
Updated on: 25 Apr 2018 9:20AM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 7.6
 Expenses 9.9 9.0 12.9 8.0
 Net profit -19.9 -18.1 -13.9 6.6
 PAT margin (%) 5.3 5.5 4.9 15.2
 Count of Cos. 4,482 4,469 4,431 78
Non-financial Companies
 Income 10.2 8.2 13.2 3.0
 Expenses 10.5 8.2 12.3 4.0
 Net profit -25.1 -6.0 12.7 -1.8
 PAT margin (%) 5.2 6.2 6.4 14.0
 Net fixed assets 9.2 5.3
 Current assets 78.7 9.6
 Current liabilities 11.0 24.5
 Borrowings 10.4 -2.5
 Reserves & surplus 5.2 0.3
 Count of Cos. 3,459 3,442 3,427 55
Numbers are net of P&E
Updated on: 25 Apr 2018 9:20AM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.5 1.5 5.1 1.6
 Expenses 5.6 1.7 5.1 0.7
 Net profit 0.0 -10.3 23.7 9.2
 PAT margin (%) 3.1 2.8 3.6 8.3
 Assets 9.5 10.0 6.9 3.3
 Net worth 8.5 11.4 6.0 2.8
 RONW (%) 5.8 4.9 5.9 12.7
 Count of Cos. 25,647 23,668 20,755 19
Non-financial Companies
 Income 4.7 0.6 4.7 1.5
 Expenses 4.9 0.0 5.2 0.6
 Net profit -8.6 18.4 18.0 10.7
 PAT margin (%) 2.0 2.5 3.1 7.4
 Net fixed assets 13.3 17.3 5.4 4.4
 Net worth 6.9 12.0 4.4 2.9
 RONW (%) 4.6 5.1 6.0 11.5
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 11.8
 Net working capital cycle (days) 66 65 62 38
 Count of Cos. 20,897 19,807 17,287 17
Numbers are net of P&E
Updated on: 18 Apr 2018 11:50AM

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