The National Company Law Tribunal (NCLT) achieved a historic milestone by approving 78 insolvency resolution plans in the three months ended June, marking the highest-ever first quarter performance in terms of approval of resolution plans since the enactment of the Insolvency and Bankruptcy Code, 2016 (IBC). According to the latest data released on July 13, the tribunal cleared these plans involving a total amount of ₹5,518 crore during the April-June quarter. The IBC provides for time-bound and market-linked resolution of stressed assets, with final resolutions approved by the tribunal. This represents a significant improvement from the 58 resolution plans approved in Q1 FY26 and 73 plans in the corresponding period of FY25, demonstrating the tribunal's enhanced efficiency in processing insolvency cases despite facing institutional capacity constraints.
As reported by the latest data, till June 30 this year, the tribunal has given its nod for 1,628 resolution plans, involving an aggregate approved value of over ₹4.8 lakh crore since the corporate insolvency resolution process started in 2017-18. The June quarter performance significantly contributed to this cumulative total, demonstrating the tribunal's continued efficiency in processing insolvency cases. The resolution plans approved represent a substantial portion of the total value of cases processed under the IBC framework, with the tribunal maintaining its strong performance trajectory since the insolvency framework was introduced in 2016.
According to the latest data, Mumbai led with 18 approved resolution plans worth ₹2,528.45 crore, followed by Kolkata which cleared 15 plans valued at ₹507.88 crore. The Principal Bench and New Delhi Bench together approved 13 plans with a combined value of ₹1,101.46 crore. As reported by The Times of India, the tribunal operates across multiple locations including principal bench, New Delhi bench, and benches in Allahabad, Ahmedabad, Bengaluru, Chandigarh, Chennai, Cuttack, Hyderabad, Indore, Kolkata, Kochi and Mumbai. As on June 30, 2026, 349 applications seeking approval of resolution plans continued to remain pending before different benches of the NCLT, while 38 matters had already been heard and reserved for orders.
As reported by The Times of India, the tribunal continues to discharge its adjudicatory functions despite institutional capacity constraints. According to the latest data, as of July 13, 2026, the tribunal was functioning with President, 26 Judicial Members, and 25 Technical Members, against a sanctioned strength of one President, 31 judicial members and 31 technical members, leaving 11 vacancies across the tribunal. The report noted that no appointments of Judicial or Technical Members have been made since January 2025. The only appointment during this period was of Justice (Retd) Anupinder Singh Grewal as the President of the NCLT, highlighting the current staffing constraints facing the tribunal despite its record performance.
According to Mukesh Chand, Senior Counsel, Economic Laws Practice, "More importantly, these figures only capture the number of plans approved and it does not disclose the time taken by the Adjudicating Authority to approve plans after their approval by the Committee of Creditors. The case-wise data itself show that in several cases CIRPs commenced and plans were submitted before NCLTs many years earlier, indicating that delays in judicial approval continue to remain a challenge." Experts note that a comparison with figures from initial years of the IBC may not present an accurate picture, as the volume of CIRPs, complexity of matters and overall workload before the NCLT was not comparable. The tribunal's ability to maintain record performance while addressing capacity constraints demonstrates its commitment to efficient resolution of stressed assets under the IBC framework.
