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Home / RP Tracker / Bhuvan Madan

Bhuvan Madan UNCLAIMED PROFILE

Insolvency Professional · Active since 2018
IPA ICAI IIIPI Bench Mumbai · West Reg IBBI/IPA-001/IP-P01004/2017-2018/11655 CPE 119 credits
MiningTrading & DistributionPower & EnergyOther ServicesConstruction & InfrastructureElectronics & Electricals
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Career composition · 11 CIRP mandates
8
2
1
Resolved 8 Under CIRP 2 Withdrawn / settled 1
Appointments by year
'18'19'20'21'22'23'24'25'26
Overview Resolved 8 Under CIRP 2 Withdrawn 1 Voluntary 1 Standing
Mandates
10cases
Top 20% by mandate count · last appointed Nov 2025
Claims Managed
Rs 70,657Cr
across 7 cases with figures
Realised for Creditors
Rs 16,394Cr
23.2% of admitted claims
Resolved
8cases
100% resolution rate
Recovery vs LV
94.7%
4 of 7 beat the floor
Typical CIRP Time
29 months
nationally 16 months
Largest Mandate
Rs 60,637 Cr
Jaiprakash Associates L…

Resolved — plan approved

8
Acquirer shown where the approved plan names one. Figures shown for outcomes in the last two quarters — the full financial record is member data.
Corporate DebtorRole / AppointedAdmittedRealisedRec vs LVDuration
Jaiprakash Associates Limited
L14106UP1995PLC019017
→ acquired by Adani Enterprises Ltd
IRP · Jun 2024
RP · Aug 2024
🔒 🔒 🔒 1y 9mo
to Mar 2026
Sathavahana Ispat Limited
L27109TG1989PLC010654
→ acquired by Jindal Saw Limited (JSL)
RP · Sep 2021
RP · Sep 2021
🔒 🔒 🔒 3y 6mo
to Mar 2023
Diamond Power Infrastructure Limited
L31300GJ1992PLC018198
→ acquired by GSEC Ltd. in consortium with one Mr. Rakesh Shah
RP · Oct 2018
🔒 🔒 🔒 3y 9mo
to Jun 2022
Ferro Alloys Corporation Limited
L45201OR1955PLC008400
RP · Jul 2019
🔒 🔒 🔒 2y 6mo
to Jan 2020
Indrajit Power Private Limited
U45200MH1994PTC081267
→ acquired by Consortium of 'Evonith Metallics Limited' and 'Evonith Holdings Pte. Limited' Singapore, with Evonith Metallics Limited as the Lead Member (referred to as 'Evonith Consortium')
IRP · Feb 2024
Rs 513 Cr Rs 232 Cr 190.7% 2y 2mo
to Apr 2026
Arshiya Northern FTWZ Ltd
U51109MH2008PLC183555
RP · Aug 2023
RP · Aug 2023
3y 8mo
to Aug 2026
JEKPL Private Limited
U51909UP1997PTC047891
RP · Mar 2019
🔒 🔒 🔒 9 mo
to Dec 2017
NCR Rail Infrastructure Limited (Formerly known as Arshiya Rail Infrastructure Limited)
U93000MH2008PLC180907
→ acquired by JSW Infrastructure Limited
IRP · Mar 2024
RP · May 2024
🔒 🔒 🔒 1y 10mo
to Jan 2026

Under CIRP — live

2
Where each live mandate stands against the statutory clock — 180 days from commencement, 270 with the single permitted extension, 330 as the outer limit.
2past 330d
Longest-running live mandate: TARUN REALTORS PRIVATE LIMITED at 1,160 days from commencement.
Corporate DebtorRole / AppointedStatutory clockStage
TARUN REALTORS PRIVATE LIMITED
U07010KA2004PTC035166
Mining
RP · Nov 2025
1,160d past 330d limit Inviting EoI
Hiranmaye Energy Limited
U40105WB2008PLC125220
Power & Energy
IRP · Jan 2024
RP · Feb 2024
994d past 330d limit Under CIRP
Admitted claims and recovery are determined only as each case concludes, so figures appear here once an outcome is reached. The day count runs from the insolvency commencement date (s.12 IBC). A case past 330 days is not a default by the professional: the Supreme Court struck the word “mandatorily” from that proviso in CoC of Essar Steel v Satish Kumar Gupta (2019), and time lost to the tribunal's own listing is counted in the figure. Read it as runway, not as a verdict.

Withdrawn / settled

1
Settled between debtor and creditors before an outcome — counted separately.
Corporate DebtorRole / AppointedTime in Process
JAYPEE HEALTHCARE LIMITED
U85191UP2012PLC053358
IRP · Jun 2024
2y 3mo

Voluntary liquidations

1
Solvent member-voluntary liquidations under s.59 — a separate mandate type from CIRP, and a different job: no creditors' committee, no resolution plan, a surplus to return.
Typical time to dissolution1y 8mo median across every VL on record — none of these mandates has reached dissolution yet
Corporate DebtorAppointedRealisedPaid to CreditorsSurplusCommenced → dissolved
POSHMARK ONLINE MARKETPLACE PRIVATE LIMITED
U74999DL2021FTC383507
Voluntary Liquidator · Aug 2025
in process
Figures shown where an outcome has been filed. The dated sequence inside a row is read from the tribunal's dissolution order itself, one field at a time, with the page it came from held against it. Regulation 37 (as amended with effect from 31 January 2024) sets 270 days from commencement where the creditors approved the resolution and 90 days where they were not required to — this page does not assign a per-case target, because whether creditors approved is recorded in these orders as prose and has not been classified. The comparison shown is the median of every voluntary liquidation on record: same statistic, same basis.
About this data: Figures come from the IBBI professional register, IBBI published data and public announcement records. Comparisons are medians across stressed.in's full IBBI universe. How every number is sourced, checked and corrected →.
Report an error →
Activity & context · vs India's IP universe
Activity — mandate countTop 20% of 2,365 ranked
Recovery vs liquidation value94.7%
IBBI cumulative across all CIRPs since 2016: 166.6% · same basis, realised ÷ liquidation value
Mandates that beat the liquidation floor4 of 7
Typical time to outcome29 months
national median 16 months · median of 8 concluded mandates
Computed across stressed.in's IBBI universe — 8,500+ CIRPs · 5,400+ registered professionals; updates as records load. Ranks count mandates only and are not a quality score — recovery and duration depend on each company's condition and case mix as much as the professional.
Role mix
Resolution Professional16
Voluntary Liquidator1
Of these, 5 began as an IRP appointment — the interim role the tribunal fills on admission, before the committee of creditors confirms or replaces it.
Benches — his mandates vs the forum's tempo
Allahabad3 mandates
Bench median 22 months to outcome · 44% resolved (101 concluded cases)
Mumbai3 mandates
Bench median 18 months to outcome · 34% resolved (1,247 concluded cases)
Hyderabad1 mandate
Bench median 14 months to outcome · 37% resolved (345 concluded cases)
Ahmedabad1 mandate
Bench median 15 months to outcome · 32% resolved (445 concluded cases)
Bhuvan runs a median 29 months to outcome across 8 concluded mandates. The benches those mandates sit in run at 19 months, weighted by how many of his cases each one holds — so he is taking 305 days longer than the forums he files in.
Bench medians run across every concluded CIRP on record at that bench, not only this professional's. Duration turns on the company's condition and the tribunal's listing as much as on the professional — context, not a ranking.
Sector exposure
Mining2
Construction & Infrastructure2
Trading & Distribution2
Other Manufacturing1
Electronics & Electricals1
Power & Energy1
Other Services1

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