By Ssangeeta Sharma
New Delhi, Oct 8: The National Company Law Tribunal (NCLT) has recorded its strongest quarterly performance since its establishment, approving 107 Resolution Plans during July-September 2026, with the approved plans involving more than ₹11,071 crore.
The performance marks a substantial rise in the Tribunal’s resolution activity and comes at a time when faster disposal of insolvency matters is increasingly important for improving certainty for creditors, investors and businesses.
The NCLT had approved 60 Resolution Plans during the corresponding quarter of FY 2025-26, 57 in FY 2024-25, 82 in FY 2023-24, 47 in FY 2022-23 and 20 in FY 2021-22. The latest figure of 107 is therefore the highest quarterly number recorded by the Tribunal.
The latest approvals have taken the number of Resolution Plans cleared during the first half of Financial Year 2026-27 to 185, including 78 plans approved in the April-June quarter. Since the implementation of the Insolvency and Bankruptcy Code (IBC), NCLT Benches have collectively approved 1,735 Resolution Plans as of September 30, 2026.
The record quarterly performance comes within months of Justice (Retd.) Anupinder Singh Grewal, former judge of the Punjab and Haryana High Court, taking charge as President/Chairperson of the NCLT.
Justice Grewal was appointed President/Chairperson of the Tribunal on April 29, 2026.
The Tribunal has attributed the improvement to a combination of stronger case-flow monitoring, streamlined Registry processes, structured listing of matters and better utilisation of available judicial resources.
The NCLT has introduced a framework aimed at bringing greater uniformity in registration and listing practices. Older matters have been given priority, including IBC admission cases and applications seeking approval of Resolution Plans. The Tribunal has also undertaken redistribution of workload and constitution of Special Benches wherever required.
The improved disposal rate has come despite the continuing filing of applications seeking approval of Resolution Plans.
As on September 30, 294 Resolution Plans were pending consideration, while orders had been reserved in another 41 matters. Thus, 335 matters were at either of these two stages.
The figure represents an improvement over the position noted by the Supreme Court in April 2026, when 363 applications were awaiting approval before the NCLT.
The Tribunal has simultaneously expanded technology-enabled access to its records by introducing e-Inspection and e-Certified Copy services. The initiatives are part of its wider digital transformation, which also includes the revamped NCLT website and implementation of e-Courts 2.0.
The digital initiatives are intended to make access to judicial records faster and more convenient for advocates, litigants and other stakeholders.
Despite the improved disposal rate, the NCLT continues to face institutional constraints.
Against a sanctioned strength of 62 Members, including the President, the Tribunal presently has 48 working Members, leaving 14 vacancies.
The Tribunal has 16 Benches functioning across the country, with 13 Courts functioning on a full-day basis and 18 on a half-day basis. Four more Members are expected to demit office by the end of the current calendar year.
The Supreme Court has also taken suo motu cognizance of issues concerning appointments of Judicial and Technical Members and inadequate infrastructure in the NCLT.
The latest NCLT figures carry wider significance for India’s investment and business environment. A predictable and time-bound insolvency mechanism is critical for lenders, investors and companies dealing with stressed assets.
Faster approval of resolution plans can help unlock capital, provide greater certainty to creditors and improve confidence in India’s corporate insolvency framework.
The record performance also highlights the importance of expediting legal and institutional reforms, particularly filling vacancies, strengthening court infrastructure, improving case management and reducing delays in commercial dispute resolution.
For India to emerge as a more robust and competitive economy, investor confidence must be supported by speedy justice, predictable enforcement and efficient resolution of commercial disputes.
Continued reforms in these areas can strengthen the ease of doing business and help ensure that capital tied up in distressed companies is returned to productive economic activity.
The NCLT has said it will continue to focus on timely disposal, efficient case management and optimal utilisation of available judicial and administrative resources despite the existing constraints. (NVI)
