According to BloombergQuint, in the 12 largest accounts, referred for insolvency proceedings in June 2017 as identified by RBI, there is about 40% recovery. 

According to data, banks have been able to recover Rs 1.16 lakh crore out of the Rs 2.96 lakh crore in claims admitted.

So far, 11 cases out of the 12 have reached some form of resolution, while one case is still pending. 

RBI has identified 12 large account for sending to NCLT under IBC. These 12 accounts represented around 25% of gross NPA of banking sector in March 2016.

Major recoveries were largely contributed by three cases—Essar Steel Ltd., Bhushan Steel Ltd. and Bhushan Power & Steel Ltd.

ArcelorMittal and Nippon Steel & Sumitomo Metal Corporation Ltd repaid Rs 42,000 crore to lenders to Essar Steel as part of their resolution plan. 

Tata Steel Ltd. repaid Rs 35,200 crore out of Rs 56,000 crore that Bhushan Steel owed to financial creditors. 

JSW Steel Ltd.’s Rs 19,600 crore bid for Bhushan Power was approved by the National Company Law Appellate Tribunal on Monday.

According to a report by Kotak Institutional Equities, banks have seen an average haircut of 88 percent in the cases which were resolved in the October-December 2019 period. This is the highest percentage of haircut that lenders have taken in a single quarter since the introduction of the IBC in 2016, the report said.