According to the Insolvency and Bankruptcy Board of India (IBBI), 23,417 applications for initiation of the Corporate Insolvency Resolution Process (CIRP), having underlying default of ₹7.31 lakh crore, were resolved even before their admission, as on September 31.source https://economictimes.indiatimes.com/industry/banking/finance/banking/out-of-court-deals-gain-traction-as-lenders-companies-look-to-avoid-ibc/articleshow/95865029.cms
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