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In the insolvency of real estate companies,212 applications pertaining to real estate sector were admitted for Corporate Insolvency Resolution Plan (CIRP) under the Insolvency Bankruptcy Code (IBC), of these, 8 cases were resolved, 65 cases have been settled or withdrawn and 23 cases were ordered for liquidation and for rest, process is ongoing. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Lok Sabha today. The Mi
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FAQ :
A total of 212 applications pertaining to the real estate sector were admitted for Corporate Insolvency Resolution Plan (CIRP) under the IBC.
Eight cases in the real estate sector have been resolved under the IBC.
Sixty-five cases in the real estate sector have been settled or withdrawn under the IBC.
Twenty-three cases in the real estate sector have been ordered for liquidation under the IBC.
The information was stated by Union Minister of State for Corporate Affairs, Shri Rao Inderjit Singh, in a written reply to a question in Lok Sabha.
The provisions for corporate insolvency resolution process (CIRP) were notified with effect from 1st December, 2016.
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