Infrastructure leasing and financial services (IL & FS) revival case

The status of corporate insolvency resolution process during 2016–18; The number of cases firms admitted (977), Closed on appeal/review (91), Closed by resolution (34), Closed by liquidation (136), Ongoing CIRPs (716), Further, > 270 days (186), > 180 days < = 270 days (116), > 90 Days <=180 Days (183), <=90 Days (231) as per date of IBBI (Insolvency Bankruptcy Board of India). IL & FS (Infrastructure Leasing and Financial Services) and its 40 subsidiaries have filed a case before the NCLT, under section 230 of the companies Act. 2013 seeking to restructure their debts. The SIDBI and one IL & FS creditors has moved the Insolvency court against the company due to Rs.10 billion debt of SIDBI.