IBC has completed a decade of its implementation with cumulative realisations by creditors of Rs. 4.3 lakh crore as of March 2026, the code continues to see high haircuts and stretched timelines.

The number of resolution plans (RP) approved by the NCLT under the IBC declined to 225 cases in FY2026 from 259 cases in FY2025. There was also a dip in cases admitted in the NCLT from 724 in FY2025 to 679 during the same period.

In its decade-long journey, the IBC has seen the admission of 8,987 corporate debtors overall, of which 64% of CIRPs have been resolved (either through a successful resolution or withdrawal or liquidation) by end of March 2026.

Exhibit: Pre- and post-admission case disposal and break-up

Source: IBBI, ICRA Research