CIRP attractive

Creditors are realising on average nearly 200 per cent of liquidation value through resolution plans under CIRP, as the company continues with business, most often, with higher efficiency and on a larger scale, according to Dr M S Sahoo, Chairperson, Insolvency and Bankruptcy Board of India. The probability of resolution, which usually exceeds the probability of recovery, coupled with higher realisations and revival of the company, makes CIRP an attractive option for creditors, he says.