The Ministry of Corporate Affairs (MCA) in response to questions raised by Shri Raghav Chadhahas responded to the Rajya Sabha that as of March 2025, a total of 6,988 cases were pending under the Insolvency and Bankruptcy Code (IBC). And as of now there is no proposal to increase the NCLT benches to avoid the backlogs.
It was also mentioned that a total of 1,194 Corporate Insolvency Resolution Processes (CIRPs) under IBC have yielded resolution plans taking an average duration of 597 days (after excluding the time excluded by the AA) for conclusion of process, against the prescribed timelines.
It was clarified that to facilitate expeditious disposal of cases, the Government has undertaken six legislative amendments…