Landmark cases
India’s landmark insolvency cases, read in full.
24 of India’s largest insolvency cases and 6 small-ticket resolutions — every dossier open without an account.
Figures are IBBI’s, ₹ crore as filed · paise per ₹1 against the median of 22.0 across 1,449 approved plans (pre-packs apart) · methodology · report an error
Where the 30 landmark cases ended
22plan approved7sent to liquidation1still under CIRP
Paid more than the 22.0 paise median10
Paid less than the median10
of the 20 approved plans that carry a figure · paise per ₹1 of admitted claims
The largest cases
11
Jaypee Infratech LimitedNCLT Allahabad · Acquirer: Suraksha Realty Limited Along with M/S. Lakshdeep Investments and Finan…
₹23,083 Cradmitted claims
88 paise per ₹1 to creditors — a ₹20,363 Cr plan
66 paise above the median · plan approved Mar 2023 · 2,036 days in CIRP
12
Aircel LimitedNCLT Mumbai · Acquirer: UV Asset Reconstruction Company Limited
₹23,000 Cradmitted claims
16 paise per ₹1 to creditors — a ₹3,780 Cr plan
6 paise below the median · plan approved Jun 2020 · 820 days in CIRP
13
ABG Shipyard LimitedNCLT Ahmedabad
₹19,317 Cradmitted claims
Sent to liquidation in Apr 2019 after 632 days in CIRP
14
IVRCL LimitedNCLT Hyderabad
₹14,096 Cradmitted claims
Sent to liquidation in Jul 2019 after 518 days in CIRP
15
Electrosteel Steels Ltd.NCLT Kolkata · Acquirer: Vedanta Limited
₹13,958 Cradmitted claims
38 paise per ₹1 to creditors — a ₹5,320 Cr plan
16 paise above the median · plan approved Apr 2018 · 270 days in CIRP
16
Punj Lloyd LimitedNCLT New Delhi · Sold as a going concern to Adani Infra (India) Limited
₹13,390 Cradmitted claims
Sent to liquidation in May 2022 after 1,176 days in CIRP
17
Reliance Naval and Engineering LimitedNCLT Ahmedabad · Acquirer: Hazel Mercantile Limited
₹12,884 Cradmitted claims
16 paise per ₹1 to creditors — a ₹2,043 Cr plan
6 paise below the median · plan approved Dec 2022 · 1,073 days in CIRP
18
Amtek Auto LimitedNCLT Chandigarh · Acquirer: Deccan Value Investors L.P. and DVI PE (Mauritius) Ltd.
₹12,848 Cradmitted claims
20 paise per ₹1 to creditors — a ₹2,619 Cr plan
2 paise below the median · plan approved Jul 2020 · 1,081 days in CIRP
19
Gitanjali GemsNCLT Mumbai
₹12,558 Cradmitted claims
Sent to liquidation in Feb 2024 after 1,948 days in CIRP
20
Bharati Defence and Infrastructure LimitedNCLT Mumbai · Sold as a going concern to Exicom Technologies India Private Limited
₹12,509 Cradmitted claims
Sent to liquidation in Jan 2019 after 587 days in CIRP · liquidation closed Nov 2024
Which cases appear here is a hand-picked list; every figure beside them is from the public record. Admitted claims and plan value are IBBI’s figures at approval (liquidation rows: at the liquidation order); days in CIRP run from the insolvency commencement date to the approval or liquidation order. All resolved cases →All liquidations →Sources and disclaimers