New Delhi: India’s Insolvency and Bankruptcy Code (IBC) is struggling to deliver on its core objective—the timely resolution of cases. In 2024-25, the average duration of insolvency resolution stretched 853 days, far exceeding the mandated 330-day limit. With 30,600 cases pending, it would take at least a decade to clear the backlog at the current 30-bench strength of the National Company Law Tribunal (NCLT).
This issue was revealed in a parliamentary panel report tabled by the Standing Committee on Finance Tuesday. The NCLT is a judicial body that regulates and resolves corporate disputes, and the IBC was enacted in 2016.
While the government is considering proposals to increase bench capacity, the panel led by Bharatiya Janata…