DFS Secretary Reviews PSB Progress on Pending IBC Cases

16 Mar 2026 CW Team

The meeting was attended by senior officials of the Department of Financial Services, the top management of Public Sector Banks (PSBs) and representatives of the Insolvency and Bankruptcy Board of India (IBBI). Officials acknowledged progress on cases that have been admitted and rescued during the year and reported that 20 high value accounts have been resolved through admission, assignment or disposal at the NCLT with coordinated efforts of all stakeholders.

A detailed review was undertaken of the top 20 accounts pending for admission and 10 accounts pending for resolution to identify bottlenecks and expedite disposal. The review focused on procedural inefficiencies that have delayed processes and on measures to accelerate time bound outcomes.

During deliberations, issues related to pending insolvency and bankruptcy cases were addressed and banks were advised to adopt a collaborative approach to maximise asset value and improve recoveries. Banks were urged to increase efforts to minimise the number of adjournments and to reduce delays in filing Corporate Insolvency Resolution Process applications. Chief executives of all public sector banks were advised to maintain active oversight of top cases pending for admission and resolution and to report progress regularly.

The meeting concluded with an emphasis on expediting resolution of pending cases and on addressing procedural inefficiencies to improve recovery outcomes. The Department of Financial Services will continue to monitor progress and to engage with banks, the tribunal and the insolvency board to ensure coordinated action and timely resolution. Stakeholders were asked to implement recommendations and to enhance coordination to deliver measurable improvements in recovery.

Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), chaired a review meeting to monitor progress in top Insolvency and Bankruptcy Code cases pending for admission and resolution at the National Company Law Tribunal (NCLT). The meeting was attended by senior officials of the Department of Financial Services, the top management of Public Sector Banks (PSBs) and representatives of the Insolvency and Bankruptcy Board of India (IBBI). Officials acknowledged progress on cases that have been admitted and rescued during the year and reported that 20 high value accounts have been resolved through admission, assignment or disposal at the NCLT with coordinated efforts of all stakeholders. A detailed review was undertaken of the top 20 accounts pending for admission and 10 accounts pending for resolution to identify bottlenecks and expedite disposal. The review focused on procedural inefficiencies that have delayed processes and on measures to accelerate time bound outcomes. During deliberations, issues related to pending insolvency and bankruptcy cases were addressed and banks were advised to adopt a collaborative approach to maximise asset value and improve recoveries. Banks were urged to increase efforts to minimise the number of adjournments and to reduce delays in filing Corporate Insolvency Resolution Process applications. Chief executives of all public sector banks were advised to maintain active oversight of top cases pending for admission and resolution and to report progress regularly. The meeting concluded with an emphasis on expediting resolution of pending cases and on addressing procedural inefficiencies to improve recovery outcomes. The Department of Financial Services will continue to monitor progress and to engage with banks, the tribunal and the insolvency board to ensure coordinated action and timely resolution. Stakeholders were asked to implement recommendations and to enhance coordination to deliver measurable improvements in recovery.

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