More than 8,800 Corporate Insolvency Resolution Processes (CIRPs) had been admitted under the Insolvency and Bankruptcy Code (IBC) till December 2025, with creditors realising over Rs 4.11 lakh crore through approved resolution plans, Financial Services Secretary M Nagaraju said on Tuesday, PTI reported.More than 4,000 corporate debtors have also been rescued through resolution, settlements, withdrawals or appeal-related closures, he said while addressing a workshop on the Insolvency and Bankruptcy (Amendment) Act, 2026.The workshop was organised to deliberate on the impact of recent amendments to the IBC on the banking sector and improve stakeholder understanding regarding implementation of the amended provisions of the Code, according to a finance ministry statement.Addressing participants, Nagaraju highlighted the role of the IBC in creating a time-bound and creditor-driven insolvency resolution framework in the country.He said the Code has strengthened repayment discipline and shifted focus from liquidation towards revival and value maximisation of stressed businesses.Referring to recent amendments related to group insolvency, cross-border insolvency and creditor-initiated insolvency resolution processes, Nagaraju said the reforms would further strengthen the insolvency framework and help address delays in resolution.Speaking at the event, Insolvency and Bankruptcy Board of India (IBBI) Chairperson Ravi Mital highlighted the role of the IBC in strengthening institutional capacity, improving creditor confidence and promoting transparency in insolvency resolution mechanisms.Mital said the recent amendments would improve coordination among stakeholders and ensure that the insolvency framework remains efficient, fair and future-ready.The workshop featured presentations by the Ministry of Corporate Affairs (MCA) and IBBI on the recent amendments and their implications for the Committee of Creditors (CoC) and other stakeholders.Senior officials from the MCA, IBBI, legal experts, executives from public sector banks and financial institutions attended the discussions.Delivering the closing remarks, Department of Financial Services Special Secretary Sanjay Lohiya acknowledged the role of the IBC in speeding up resolution processes, improving recoveries and maximising asset value.He also underlined the need for continued efforts to tackle delays, capacity constraints and prolonged litigation while noting that the IBC has significantly contributed to improving ease of doing business in India.
