On March 9, 2026, Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), led a review meeting to assess the progress of public sector banks in expediting pending cases at the National Company Law Tribunal (NCLT). The meeting, attended by senior officials from DFS, public sector banks, and the Insolvency and Bankruptcy Board of India, focused on the admission and resolution of Insolvency and Bankruptcy Code (IBC) cases.
Key outcomes and discussions included:
* Acknowledgement of progress in cases admitted and rescued during the year.
* Information that twenty high-value accounts have been resolved through admission, assignment, or disposal at NCLT due to coordinated stakeholder efforts.
* A detailed review of twenty top accounts pending for admission and ten for resolution to expedite their processing.
* Addressing issues related to pending IBC cases.
* Advice for banks to adopt a collaborative approach to maximize asset value, improve recoveries, and meet time-bound objectives in resolving pending cases.
* An urging for banks to minimize adjournments and delays in filing Corporate Insolvency Resolution Process (CIRP) applications.
* A directive for Chief Executives of all Public Sector Banks (PSBs) to continuously monitor top cases awaiting admission and resolution.
The meeting concluded with a strong emphasis on accelerating the resolution of pending cases and tackling procedural inefficiencies to enhance recovery outcomes.
Key Entities Referenced
Insolvency and Bankruptcy Cases (IBC): A legal framework and set of procedures governing insolvency and bankruptcy in India, which is the primary subject of the review meeting.
National Company Law Tribunal (NCLT): The adjudicating authority responsible for dealing with cases under the Insolvency and Bankruptcy Code, where pending cases are being monitored.
Department of Financial Services (DFS): The government department responsible for the review meeting and overseeing the progress of Public Sector Banks in resolving IBC cases.
Public Sector Banks (PSBs): Financial institutions whose performance in expediting IBC cases and improving recovery outcomes is being reviewed and monitored.
Insolvency and Bankruptcy Board of India: The regulatory body for insolvency professionals and the overarching framework of IBC, whose management attended the review meeting.
Ministry of Finance
Secretary, DFS chairs Review meeting to monitor
the progress of Public Sector Banks to expedite
pending cases at NCLT
Meeting emphasises on expediting resolution of pending
cases and addressing procedural inefficiencies for improving
recovery outcomes
Posted On: 09 MAR 2026 7:17PM by PIB Delhi
Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), chaired a review meeting today to
monitor the progress in top Insolvency and Bankruptcy Cases (IBC) cases pending for admission and
resolution at National Company Law Tribunal (NCLT). The meeting was attended by senior officials of
DFS, the top management of Public Sector Banks and the Insolvency and Bankruptcy Board of India.
During the meeting, the progress on cases that have been admitted and rescued during the year was
acknowledged. It was informed that twenty high value accounts have been resolved through
admission/assignment/disposal at NCLT with the coordinated efforts of all stakeholders.A detailed review of top twenty accounts pending for admission and ten accounts pending for resolution
was undertaken for early expedition of pending cases. During the deliberations, the issues related to
pending IBC cases were addressed. Banks were advised to take collaborative approach in resolution of
pending cases for asset value maximization, improving recoveries, and ensuring time-bound objectives.
Banks were urged to increase their efforts in minimizing the number of adjournments and delays in filing
CIRP applications. The Chief Executives of all PSBs were advised to keep monitoring the top cases
pending for admission and resolution.
The meeting concluded with an emphasis on expediting the resolution of pending cases and addressing
procedural inefficiencies for improving recovery outcomes.
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