More than 8,800 Corporate Insolvency Resolution Processes (CIRPs) have been admitted under the Insolvency and Bankruptcy Code (IBC) until December 2025, with creditors realizing over Rs 4.11 lakh crore through approved resolution plans, Financial Services Secretary M Nagaraju stated on Tuesday, as reported by PTI.
Rescue of Corporate Debtors
Over 4,000 corporate debtors have been rescued through resolution, settlements, withdrawals, or appeal-related closures, Nagaraju added while addressing a workshop on the Insolvency and Bankruptcy (Amendment) Act, 2026.
The workshop was organized to deliberate on the impact of recent amendments to the IBC on the banking sector and to improve stakeholder understanding regarding the implementation of the amended provisions of the Code, according to a finance ministry statement.
Role of IBC in Insolvency Framework
Addressing participants, Nagaraju highlighted the role of the IBC in creating a time-bound and creditor-driven insolvency resolution framework in the country. He emphasized that the Code has strengthened repayment discipline and shifted focus from liquidation towards revival and value maximization of stressed businesses.
Referring to recent amendments related to group insolvency, cross-border insolvency, and creditor-initiated insolvency resolution processes, Nagaraju said these reforms would further strengthen the insolvency framework and help address delays in resolution.
IBBI Chairperson's Perspective
Speaking at the event, Insolvency and Bankruptcy Board of India (IBBI) Chairperson Ravi Mital highlighted the role of the IBC in strengthening institutional capacity, improving creditor confidence, and promoting transparency in insolvency resolution mechanisms. Mital noted that the recent amendments would improve coordination among stakeholders and ensure that the insolvency framework remains efficient, fair, and future-ready.
Workshop Presentations and Attendees
The workshop featured presentations by the Ministry of Corporate Affairs (MCA) and IBBI on the recent amendments and their implications for the Committee of Creditors (CoC) and other stakeholders. Senior officials from the MCA, IBBI, legal experts, and executives from public sector banks and financial institutions attended the discussions.
Closing Remarks
Delivering the closing remarks, Department of Financial Services Special Secretary Sanjay Lohiya acknowledged the role of the IBC in speeding up resolution processes, improving recoveries, and maximizing asset value. He also underlined the need for continued efforts to tackle delays, capacity constraints, and prolonged litigation while noting that the IBC has significantly contributed to improving the ease of doing business in India.
