Quick Take
- The NCLT approved a record 78 resolution plans worth Rs 5,517.66 crore in the June 2026 quarter.
- But 349 resolution plans stayed pending on June 30, 2026, with 38 more reserved for orders.
- No judicial or technical member has been appointed since January 2025, leaving the tribunal a third short.
The National Company Law Tribunal cleared a record 78 rescue plans in the June 2026 quarter. The plans were worth Rs 5,517.66 crore. It was the tribunal’s best first quarter since the insolvency law began in 2016.
The same report shows the strain behind that record. On June 30, 2026, some 349 resolution plans were still waiting for approval before different benches of the National Company Law Tribunal. Another 38 matters had been heard and reserved for orders.
The count comes from a performance report the tribunal published on its own website. Business Standard reported the figures on July 14, 2026.
For a founder whose company is in insolvency, these two numbers decide everything. A cleared plan means creditors get paid and the business finds a new owner. A pending plan means the money stays locked and the clock keeps running.
What did the NCLT clear in the June quarter?
The National Company Law Tribunal approved 78 resolution plans in the three months ended June 2026. The total value was Rs 5,517.66 crore. The tribunal called it the highest-ever first-quarter figure since the Insolvency and Bankruptcy Code, 2016, was enacted.
The Insolvency and Bankruptcy Code, called the IBC, sets a time-bound way to resolve stressed assets. A committee of creditors picks a plan. The tribunal gives the final approval.
That approval is the moment that matters. Until the National Company Law Tribunal signs off, no money moves and no new owner takes charge.
The record quarter did not appear on its own. NCLT President Justice Anupinder Singh Grewal said the tribunal now tracks pending cases across benches using a data-driven method. Workload was reviewed and moved around, and Special Benches were set up where needed.
How big is the pending pile?
The pending pile is large. On June 30, 2026, some 349 resolution plans were still waiting for the tribunal’s approval. A further 38 cases had been heard and reserved for orders.
That backlog sits on top of a record quarter, not instead of it. Clearing 78 plans in three months is real progress. So is a queue of 349 that are ready and still waiting.
Since the IBC began, the National Company Law Tribunal has approved 1,628 resolution plans in total. Their combined approved value crosses Rs 4.78 lakh crore. The June quarter added to that running count.
The tribunal hears these cases across many cities. Apart from the principal bench and the New Delhi bench, it has benches in Allahabad, Ahmedabad, Bengaluru, Chandigarh, Chennai, Cuttack, Hyderabad, Indore, Kolkata, Kochi and Mumbai.
Why are NCLT member seats empty?
The seats are empty because no one has been appointed to fill them. As on July 13, 2026, the tribunal ran with a President, 26 judicial members and 25 technical members. Its sanctioned strength is one President, 31 judicial members and 31 technical members.
That is a shortfall of five judicial and six technical members. The tribunal is working at about four-fifths of its full bench.
The gap has a clear cause. No judicial or technical member has been appointed since January 2025. The only appointment in that stretch was Justice (Retd) Anupinder Singh Grewal as President.
Justice Grewal was candid about the limits. He said the tribunal still faces infrastructure and manpower constraints, while it works to cut avoidable delays.
What does this mean for a distressed startup?
It means resolution is speeding up, but the queue is still long. A founder, lender or buyer eyeing a distressed asset should plan for a wait even when a plan is ready.
The historical numbers show how far the system has come. The tribunal approved 180 plans in FY23, then a record, with a total realisation of Rs 51,424 crore. It cleared 147 plans in FY22, 121 in FY21 and 134 in FY20.
Realisation for creditors has moved too. In FY23 creditors recovered 36% of admitted claims. That figure was 23% in FY22, 17% in FY21 and 26% in FY20.
The table below sets those years side by side.
| Financial year | Resolution plans approved | Creditor recovery of admitted claims |
|---|---|---|
| FY20 | 134 | 26% |
| FY21 | 121 | 17% |
| FY22 | 147 | 23% |
| FY23 | 180 | 36% |
| Q1 FY27 (Apr to Jun 2026) | 78 | Not disclosed |
The message for an asset-light startup is plain. Insolvency value now sits inside cloud accounts, code and contracts, and it decays fast while a case waits. Speed at the tribunal is not a legal detail. It is the difference between recovery and a write-off.
What this means for you: If your company or a target you want is in insolvency, budget for months of waiting even after a plan is filed, and track your bench’s pendency before you set a timeline.
StartupFeed Insight
A record 78 plans and a queue of 349 tell one story, not two. The tribunal is clearing faster while running a third short of its sanctioned bench. That is a productivity gain squeezed out of fewer people, and it has a ceiling. Data-driven case management and Special Benches can lift output only so far before empty seats cap it. Watch the member count, not the record. If no judicial or technical members are appointed before the end of 2026, expect the pending pile of 349 to grow through the next two quarters, whatever the headline number says.
— Harshvardhan Kothari, Technology and Policy Correspondent
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