IRP stands for Corporate Insolvency resolution process. It is an act of Insolvency and Bankruptcy Code, 2016, governs the process. (India's bankruptcy law is the Insolvency and Bankruptcy Act, 2016 (IBC)).
Financial creditors have the authority to initiate the insolvency resolution procedure in the event that a corporate debtor fails to make payments as agreed upon to its creditors. A National Corporate Law Tribunal application must be submitted in order to start the settlement process (NCLT). Upon NCLT's acceptance of the application, the claims of the creditors (i.e., the assets of the corporation) will be put on hold for a period of six months. The NCLT will consider measures to revive during this time before deciding on a future course of action, such as debt relief, business restructuring, or liquidation. Stages of this procedure take place.
While placing an order for security under IRP list, user shall need to provide consent for placing the order.
List of stocks under Insolvency Resolution Process Stocks under IRP list