NCLT approves record 107 resolution plans in Q2 FY27

The National Company Law Tribunal (NCLT) approved 107 resolution plans in the July–September quarter of FY 2026–27, the highest in any quarter since the tribunal began handling insolvency cases, according to data released by the NCLT on Wednesday. The figure is 78% higher than the 60 plans approved in the same quarter last year, and well above the previous quarterly peak of 90, recorded in October–December 2025.

The 107 plans carry an aggregate approved value of about ₹11,071 crore, the tribunal said. That works out to an average of roughly ₹103 crore per plan. Two benches accounted for most of the activity. The Mumbai bench approved 35 plans worth ₹4,189 crore, about 38% of the quarter’s total value. The Principal and New Delhi benches together cleared 29 plans worth ₹1,649 crore.

The Ahmedabad bench approved only eight plans, but they were worth ₹2,882 crore, making it the second-largest bench by value. Its average plan size of about ₹360 crore was the highest among all benches. Twelve of the NCLT’s 16 benches approved at least one plan during the quarter. Chennai, Guwahati and Jaipur cleared one each.

With 78 plans approved in April–June, the tribunal has cleared 185 resolution plans in the first half of FY27, worth ₹16,588 crore. That is 57% more than the 118 plans approved in the first half of FY26. FY26 as a whole saw 257 approvals.

The cumulative count of resolution plans approved by the NCLT stood at 1,735 as on 30 September 2026, with an aggregate approved value of ₹4,89,292 crore since 2017–18. The approved value refers to the amounts in resolution plans cleared by the tribunal. The NCLT release does not give realisation as a share of admitted creditor claims.

Pendency

The backlog of plans awaiting approval has eased since the Supreme Court flagged delays earlier this year. On 29 April 2026, the court had noted that 363 applications for approval of resolution plans were pending before the NCLT.

As on 30 September, 294 plans were pending consideration and orders had been reserved in a further 41, taking the total at these two stages to 335. That is 28 fewer than the April figure, a decline of about 8%.

The tribunal attributed the higher disposals to administrative changes. These include a real-time system to track pendency and disposal across benches, used to redistribute cases where needed.

A new framework for registration and listing, framed after consultation with the Bar, gives priority to older matters, IBC admission matters and plan-approval applications. The NCLT has also constituted special benches where required.

On the technology side, it has launched e-Inspection and e-Certified Copy services, alongside a revamped website and the ongoing roll-out of e-Courts 2.0.

Vacancies

The record came despite a shortage of members. Against a sanctioned strength of 62 members besides the President, the NCLT has 48 working members, leaving 14 posts vacant. As a result, only 13 courts are sitting full-day, while 18 sit half-day. Four more members are due to demit office by the end of 2026, which would bring the working strength down to 44 unless appointments are made.

The Supreme Court has taken suo motu cognisance of the appointment of judicial and technical members and of inadequate infrastructure at the tribunal. It has directed the Centre to file a status report on basic amenities at the Principal and Regional benches, and to identify urgent needs in consultation with the NCLT President.

Tables

Table 1: Bench-wise resolution plans approved, Q2 FY27 (July–September 2026)

Bench	Plans approved	Approved value (₹ crore)	Share of value (%)
Mumbai	35	4,189.47	37.8
Ahmedabad	8	2,882.16	26.0
Principal & New Delhi	29	1,648.74	14.9
Chandigarh	9	1,079.07	9.7
Bengaluru	4	509.03	4.6
Jaipur	1	288.37	2.6
Hyderabad	4	243.93	2.2
Indore	6	106.66	1.0
Allahabad	4	64.16	0.6
Kolkata	5	27.28	0.2
Chennai	1	17.36	0.2
Guwahati	1	14.90	0.1
Total	107	11,071.14	100

Source: NCLT. Values converted from rupees to crore; share column computed.

Table 2: Resolution plans approved in Q2 (July–September), by year

Financial year	Plans approved
FY27	107
FY26	60
FY25	57
FY24	82
FY23	47
FY22	20
FY21	34
FY20	35
FY19	30
FY18	2

Table 3: Quarter-wise resolution plans approved

Financial year	Q1 (Apr–Jun)	Q2 (Jul–Sep)	Q3 (Oct–Dec)	Q4 (Jan–Mar)	Total
FY27	78	107	–	–	185
FY26	58	60	90	49	257
FY25	73	57	71	87	288
FY24	45	82	83	66	276
FY23	42	47	35	84	208
FY22	35	20	60	42	157
FY21	19	34	24	45	122
FY20	26	35	41	40	142
FY19	13	30	16	22	81
FY18	0	2	6	11	19

Table 4: Year-wise resolution plans approved and approved value

Financial year	Plans approved	Approved value (₹ crore)
FY27 (Apr–Sep 2026)	185	16,588
FY26	257	42,833
FY25	288	54,759
FY24	276	47,485
FY23	208	60,842
FY22	157	51,041
FY21	122	32,533
FY20	142	59,993
FY19	81	1,19,993
FY18	19	3,225
Cumulative	1,735	4,89,292

Also See: Resolution Plans