The Stressed India Quarterly · Vol. 1
India’s insolvency quarter, on the record.
April – June 2026. How many companies went in, how many came out, on what terms and how long it took — each figure beside the quarter before, computed live from IBBI filings and NCLT/NCLAT orders.
Computed from the record as of 18 Sep 2026 · verdicts dated by court order date · report an error
The quarter in one line
admissions against verdicts
197 companies were admitted into insolvency this quarter and 146 reached a verdict — a plan, a liquidation order or a settlement. The queue grew by 51 cases in three months: roughly 1.3 going in for every one coming out. Last quarter the same two numbers were 158 and 111.
56 liquidations against 69 approved plans — 0.8 companies broken up for every one kept alive.
What the approved plans returned
over the 58 plans with figures published
Medians, not averages · 58 of the quarter’s plans published a figure
How long these cases took
admission to verdict · 126 cases with both dates on record
The spread across benches
| Bench | Cases | Median time | Against the national median |
|---|---|---|---|
| Kochi | 5 | 1.1 years | 13 months faster |
| Chennai | 7 | 1.4 years | 10 months faster |
| Kolkata | 14 | 1.7 years | 6 months faster |
| Mumbai | 43 | 2.3 years | about the same |
| New Delhi | 18 | 2.6 years | 5 months slower |
| Bengaluru | 6 | 2.7 years | 6 months slower |
| Allahabad | 5 | 2.7 years | 6 months slower |
| Ahmedabad | 6 | 3.2 years | 12 months slower |
| Chandigarh | 10 | 3.4 years | 15 months slower |
Benches with fewer than five concluded cases this quarter are not shown.
The quarter’s largest plans
by amount realised for creditors
| Company | Acquirer | Order | Realised |
|---|---|---|---|
| Three C Green Developers Private Limited | not named in the order | 5 Jun | Rs 490 Cr |
| Adel Landmarks Limited | Art Constructions Private Limited | 19 May | Rs 472 Cr |
| RAJESH BUSINESS & LEISURE HOTELS PRIVATE LIMITED | consortium of Rare Asset Reconstruction Limited ("Rare ARC") and Chec… | 24 Apr | Rs 467 Cr |
| Amar Prakaash Developerss Private Limited | Mr. AADARSH KUMAR SURANA | 30 Jun | Rs 260 Cr |
| AVANI PROJECTS AND INFRASTRUCTURE LIMITED | PROMINENT SUPPLIERS PRIVATE LIMITED | 22 Jun | Rs 250 Cr |
Realised is what the plan puts in creditors’ hands, as stated in the order.
How the quarter ended
every verdict, by what it was
38% of this quarter’s verdicts were liquidations, against 50% in Jan – Mar 2026. A further 21 settled under §12A before any verdict.
Failed plans, repeat Form-G rounds and mid-process RP changes are not counted here yet.
Where the verdicts landed
all 146 verdicts, by bench and by sector
By NCLT bench
By sector
Using this report
no permission needed
“The Stressed India Quarterly, Vol. 1 (April – June 2026), stressed.in/quarterly”
Quote any figure on this page, in print or in a deck. Computed from IBBI filings and NCLT/NCLAT orders; verdicts dated by court order date.
How these are counted → · Report an error → · hello@stressed.in
Vol. 1 covers April – June 2026, the latest complete quarter, against Jan – Mar 2026. Recomputed from the live record on every visit.