New Delhi: The 12 large non-performing assets (NPAs) accounts directed by the RBI for resolution through insolvency process had total outstandings of Rs 3.45 lakh cr against their liquidation value of Rs 73,220.23 cr, while haircuts taken by creditors in case of the resolved accounts so far have been as high as 90 pc, according to Insolvency and Bankruptcy Board of India (IBBI) data. This shows the huge gap between the value of the assets and the outstandings the firms had accumulated.
The resolution of 12 large accounts were initiated by banks as directed by the RBI. Together they had an outstanding claim of Rs 3.45 lakh cr as against their liquidation value of Rs 73,220.23 cr. Of these, resolution plans in respect of six corporate debtors have been approved.
The insolvency regulator data also showed that out of these six, Bhushan Steel has the highest realisation claims so far, and Alok Industries has the lowest at 11 pc.
Due to the failure to implement the approved resolution plan in Amtek Auto Ltd, the process has restarted. Other accounts are at different stages of the process, the data showed. The IBBI data states out of those six resolved cases, the outstanding dues admitted in the case of Electrosteel stood at Rs 13,175 crore and the amount realised was a mere Rs 5,320 crore, or 40.38 pc realisation of the claims.