Also, over 30,000 cases involving a total amount of nearly Rs 14 lakh crore filed before the tribunal NCLT have been resolved in the pre-admission stage.
The Insolvency and Bankruptcy Code (IBC), which provides for a time-bound and market-linked resolution of stressed assets, came into force in 2016.
“As of March 2026, 1,419 (cases) had yielded resolution plans, and the resolution process has facilitated realisation of over Rs 4 lakh crore for creditors. This realisation to the creditors is 95 per cent and 167 per cent as against their fair and liquidation value, respectively,” IBBI Chairperson Ravi Mital has said.
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In a message on the completion of ten years of IBC, Mital said the deterrent effect of the Code is evident from the fact that more than 30,000 cases filed before the National Company Law Tribunal (NCLT) were resolved at the pre-admission stage through withdrawals, involving amounts estimated at nearly Rs 14 lakh crore.
“These settlements demonstrate the extent to which the Code has altered debtor-creditor dynamics by encouraging timely resolution of financial stress outside formal insolvency proceedings,” he noted.The Insolvency and Bankruptcy Code (IBC) and NCLT are key institutions in implementing IBC.
Till March this year, a total of 8,987 cases had been admitted, and 7,102 reached closure.
“Of these closed cases, while 4,099 companies, around 58 per cent of these closures were successfully rescued, another 3,003 cases culminated in liquidation.
“Among the rescued entities, 1,388 cases were closed on account of appeal, review, or settlement; 1,292 were withdrawn,” Mital said.
Around 42 per cent of the cases that ended with resolution plans had previously been with the Board for Industrial and Financial Reconstruction or were defunct.
IBC has changed India’s approach to business distress from delay and uncertainty to resolution and revival, Nirmala Sitharaman’s office said in a series of posts on X.
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Sitharaman is helming the finance and corporate affairs ministries.
Describing IBC as a cornerstone of India’s financial reform architecture, the minister’s office said the Code has marked a decisive shift from a fragmented, debtor-controlled process to a unified, creditor-driven and time-bound resolution framework.
In the message posted on the IBBI website, Mital said the Code has emerged not merely as a legislative reform, but as an institutional transformation with far-reaching implications for credit markets, corporate behaviour, investor confidence and economic efficiency.
“The jurisprudence evolving around the Code has contributed to the development of a robust and dynamic insolvency ecosystem that continues to adapt to emerging economic realities and stakeholder expectations,” he said.