Lenders of 12 bankruptcy-hit companies were able to get back 70% of the total amount claimed in the January-March 2018 quarter, the latest data released by\u00a0Insolvency and Bankruptcy Board of India (IBBI) showed. The amount realised by financial creditors increased from just 27% in the October- December quarter to\u00a070% in the quarter ended March. The data show that\u00a0during the quarter January-March 2018, 12 processes ended in resolution with different degrees of recovery. The realisation by FCs in comparison to liquidation value in the above cases was 215% while the realisation by them in comparison to their claims was 70% as compared with\u00a072.95% and 27.05% in the previous quarter. The total number of companies that ended in the resolution under the Corporate Insolvency Resolution Process (CIRP) under the IBC law was 22. "Under the resolution process, the lenders were able to get Rs 70 back on their claimed credit of Rs 100 in form of cash payments or assets,"\u00a0Ranjeeta Dubey, General Manager of IBBI told FE Online. In case of the 12 companies, a total of Rs 4,405 crore was claimed, of which, Rs 3,070 crore was realised by lenders. Under the newly-adopted Insolvency and Bankruptcy Code (IBC),\u00a0A financial creditor (himself or jointly with other financial creditors), an operational\u00a0creditor or the corporate debtor (through Corporate applicant i.e. corporate debtor itself; or an authorised member, partner of corporate debtor; or a person who has control and supervision over the financial affairs of the corporate debtor) may initiate corporate insolvency resolution process in case a default is committed by corporate debtor. Since\u00a0January 2017, a total of 701 resolution processes were initiated by financial creditors, operation creditors and corporate debtors. Of the 701 cases,\u00a067 were closed on appeal or review, 22 resulted in the resolution and 87 yielded liquidations. The number of cases undergoing liquidation is higher than the number of cases undergoing resolution, data show. IBBI chief MS Sahoo, time and again, reiterated that the main of the insolvency law is resolution and liquidation. "Resolution plan is not just a bidding mechanism or price discovery mechanism\u2026our focus would be on the resolution. The objective is to keep the firm alive, to maximise the value of the asset and balance the interests of all stakeholders. It is definitely not the liquidation," MS Sahoo said.