The insolvency resolution process has made a rebound in the first quarter of FY27 with the number of corporate insolvency resolution processes (CIRPs) yielding resolution plans rising 92% sequentially to 69 from a 13-quarter low of 36 in quarter ending March 2026.

The April-June figure is the second-highest quarterly tally in the past four quarters, after 80 resolutions were passed in the December 2025 quarter.

The pick-up comes as the government and the insolvency regulator IBBI begin implementing a major overhaul of the insolvency framework. In May, most provisions of the Insolvency and Bankruptcy Code (Amendment) Act, 2026 came into force while the IBBI notified amendments to the CIRP regulations in June.

The latest report does not directly attribute the quarterly rebound to these amendments, but the timing is notable. The IBBI stated that the changes to the CIRP regulations aimed at “improving transparency, facilitating coordinated resolution and enhancing value maximisation.”

However, the improvement in the number of resolutions contrasts with a sharp decline in the size of cases being cleared. The 69 resolution plans in the June quarter covered admitted claims of just Rs 12,443 crore, compared with Rs 77,565 crore across the 36 cases resolved in the previous quarter. This represents an 84% fall in the value of claims.

Average admitted claims per resolved case therefore fell to about Rs 180 crore from over Rs 2,100 crore in the previous quarter. The March quarter included the resolution of Jaiprakash Associates, which had admitted claims of more than Rs 60,600 crore.

The latest quarter produced better realisation outcomes. For instance, creditors realised Rs 3,557 crore in the last quarter, equivalent to 28.6% of the admitted claims. The comparable figure in the March quarter was 22.8%.

According to the IBBI, the number of fresh insolvency cases also increased, with 177 CIRPs admitted during the June quarter compared with 163 in each of the previous two quarters.

The stock of ongoing CIRPs fell to 1,865 at June-end from 1,885 at March-end, suggesting that higher resolution activity helped prevent the pending caseload from building up further.

The latest report specifically links the 2026 amendments to a broader effort to make the insolvency framework more efficient and effective. Among the changes listed are streamlined admission of insolvency applications, time-bound approval of resolution plans, and the introduction of a creditor-initiated insolvency resolution process (CIIRP).

“Collectively, these measures are expected to reduce delays, maximise value, improve recoveries, strengthen stakeholder confidence, and further promote ease of doing business in India,” the report stated.