IBC
India's unified insolvency law. Before 2016, a failing company could hide for a decade across BIFR, DRTs and civil courts; the IBC replaced that maze with one time-bound process: creditors take control, a professional runs the company, and the market decides whether it's revived or wound up.
The single biggest shift: it moved power from the promoter (owner) to the creditors. Default now means the owner can lose the company.
CIRP
The core process of the IBC. A creditor (or the company itself) files at the NCLT; on admission, a moratorium freezes all recovery action and a resolution professional takes over. The process then hunts for a buyer or a revival plan.
It is strictly time-bound: 180 days, extendable to 270, hard-capped at 330 including litigation — after which liquidation follows. That clock is why the pipeline moves every week.
The CIRP pipeline, stage by stage →NCLT & NCLAT
NCLT is the court of the process — 16 benches across India that admit cases, approve resolution plans, order liquidations and hear everything in between. Every stage change on this platform traces back to an NCLT or NCLAT order.
NCLAT hears appeals against NCLT orders; beyond it lies only the Supreme Court. Landmark insolvency law (Essar, Jaypee, avoidance rulings) is largely NCLAT and SC output.
Orders detected this week →IBBI
The regulator. IBBI licenses every insolvency professional and registered valuer, writes the process regulations, and — crucially for this platform — publishes the public record: admissions, EoI invitations, auction notices, claims and outcomes.
Everything on stressed.in is built from IBBI, NCLT and MCA public data, structured and kept current.
IRP → RP → Liquidator
On admission, an Interim Resolution Professional (IRP) takes control of the company from its board. The Committee of Creditors then confirms them (or replaces them) as the Resolution Professional (RP), who runs the company and the sale process. If the case tips to liquidation, a Liquidator (often the same person) sells the assets.
All three roles are held by IBBI-licensed insolvency professionals — every one of whom has a profile on this platform, with their full case record.
The RP performance tracker →CoC
The financial creditors of the company, voting by share of debt. The CoC is the real decision-maker of a CIRP: it confirms the RP, negotiates with bidders, and approves or rejects resolution plans — a plan needs 66% of voting share to pass.
Its commercial wisdom is near-sacrosanct: courts rarely second-guess a CoC's accepted haircut.
Moratorium
The freeze that begins the moment a case is admitted: no suits, no recovery, no enforcement of security, no asset transfers by the promoter. It exists to hold the company still — a calm period in which its true position can be assessed and a resolution attempted.
For investors, admission + moratorium is the starting gun: the company is now formally in play.
Companies just admitted →EoI & Form G
Form G is the RP's published invitation for resolution applicants — the formal doorway into a distressed acquisition. It sets eligibility criteria and a last date for Expressions of Interest; qualifying applicants then get access to the data room and submit resolution plans.
If you want to buy a company under CIRP, this window is where you enter.
Open deals inviting EoIs now →Resolution Plan
A binding proposal by a resolution applicant — an ARC, fund, strategic buyer or rival company — to take over the corporate debtor: how much creditors get, how the business runs, what happens to employees and guarantees. Approved first by the CoC (66%), then by the NCLT.
Once approved, it binds everyone — including dissenting creditors and the government.
Every approved plan, with recoveries →Haircut
The percentage of admitted claims that creditors do not recover under a resolution plan. If banks were owed ₹100 Cr and the plan pays ₹35 Cr, the haircut is 65%. It is the single most-quoted number in Indian insolvency — and the most misread.
A fairer lens: recovery against liquidation value — what the assets were actually worth when creditors took charge. This platform benchmarks both, case by case.
Haircuts, benchmarked →Liquidation
If no viable plan emerges (or the CoC chooses it), the company is wound up: a Liquidator sells the assets — as a going concern if possible, otherwise piecemeal by e-auction — and distributes proceeds down the Section 53 waterfall.
Two distinct states matter to buyers: in-process (auctions live — assets are on the market now) and dissolved (done, company struck off). We track both.
Liquidation cases, in-process & dissolved →Sections 7 · 9 · 10 · 12A
Section 7: a financial creditor (bank, NBFC, homebuyers) files. Section 9: an operational creditor — a supplier or service provider with unpaid dues — files. Section 10: the company files against itself.
Section 12A is the exit door: the promoter settles with creditors (90% CoC approval) and the case is withdrawn before conclusion — often the fastest resolution of all.
Cases settled & withdrawn →ARC
An RBI-licensed institution that buys bad loans from banks at a discount and then works the recovery — through the IBC, SARFAESI enforcement, or restructuring. ARCs (and special-situations funds) are the professional buy-side of Indian distress, and the audience this platform's investor desk is built for.
The investor desk →Now read the data the language describes
Every term above is live somewhere on this platform — thousands of cases, every RP's record, and a pipeline that moves weekly. Seven days of the investor desk, free.