+
DFS Secretary Reviews PSB Progress on Pending IBC Cases
ECONOMY & POLICY

DFS Secretary Reviews PSB Progress on Pending IBC Cases

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code