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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..