New Delhi, July 22 -- The Insolvency and Bankruptcy Code (IBC) has facilitated the resolution of 1,419 Corporate Insolvency Resolution Processes (CIRPs) since its inception, resulting in recoveries of Rs 4.32 lakh crore for creditors as of March 31, 2026, the government informed the Rajya Sabha.

Replying to a question, Minister of State for Corporate Affairs Harsh Malhotra said the IBC has strengthened the insolvency resolution framework while improving credit discipline and value recovery.

IBC Amendment Aims To Speed Up Resolution

The minister said the Insolvency and Bankruptcy Code (Amendment) Act, 2026 has been introduced to improve the functioning of the insolvency framework by reducing delays, enhancing governance and maximising v...