India, July 15 -- The National Company Law Tribunal (NCLT) approved 78 resolution plans involving a total amount of Rs 5,517.66 crore in the three months ended June.

It also marked the "highest-ever first quarter performance in terms of approval of resolution plans since the enactment of the Insolvency and Bankruptcy Code, 2016 (IBC)," the tribunal said in a report.

The IBC provides for time-bound and market-linked resolution of stressed assets and the final resolution is approved by the tribunal.

In the June quarter, the tribunal cleared 78 resolution plans that involved a total amount of Rs 5,517.66 crore, the report said.

Till June 30 this year, the tribunal has given its nod for 1,628 resolution plans, involving an aggregate appro...