Creditors recovered over ？67,000 crore from companies undergoing bankruptcy proceedings in the financial year 2024-25 (FY25), marking the highest-ever annual recovery under India’s Insolvency and Bankruptcy Code ( IBC), data from the National Company Law Tribunal (NCLT) showed. The amount represents a 42 per cent jump from the ？47,206 crore resolved in the previous financial year.
284 corporate resolutions approved in 2024–25
This surge in recoveries comes alongside a record 284 corporate resolutions approved by the NCLT between April 2024 and March 2025, surpassing the 275 cases resolved the year before. The improvement is attributed to better streamlining of regulatory processes, which has helped make the IBC mechanism more effective.
Of the total resolutions in FY25, 267 were corporate insolvency cases filed under Sections 7, 9, 10 and 54(C) of the IBC, while 17 involved personal insolvency matters under Sections 94 and 95. These led to recoveries of ？67,081 crore and ？95 crore, respectively. The previous year saw 268 corporate resolutions and seven personal cases, yielding a total recovery of ？47,206 crore.
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Rise in new insolvency admissions
The number of new insolvency admissions also increased slightly to 1,346 cases in FY25, compared to 1,318 in FY24. Personal insolvency applications under Sections 94 and 95 nearly doubled to 673.
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20 new members added to NCLT bench
Around 20 new members were appointed to the NCLT on February 28, 2025. This much-needed addition boosted its capacity to manage bankruptcy and company law matters. By the end of March, only three out of 63 tribunal positions remained vacant, marking a significant improvement following a wave of recent retirements.
In November 2024, the Supreme Court, led by then Chief Justice DY Chandrachud, had cited the lack of members and inadequate infrastructure at both the NCLT and NCLAT as reasons hindering insolvency proceedings. During a Jet Airways liquidation hearing, the court pointed out that the NCLT was functioning with just 43 members, well below its sanctioned strength of 63.
Newly appointed members serve a term of five years or until they reach the age of 65, whichever comes first.
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US President Donald Trump on Thursday said that India has proposed zero tariffs on American goods as part of efforts to strike a new trade agreement with Washington. Speaking at a business gathering in Qatar, Trump claimed that India was “willing to literally charge us no tariff” on US exports, though he did not elaborate on the terms or sectors covered by the reported offer.''
Trump has floated this idea before, however, the Government of India has not made any comments on the US President's remarks.
“They’ve offered us a deal where basically they’re willing to literally charge us no tariff... They’re the highest, and now they’re saying no tariff,” Trump said while commenting on Apple's investment in India. The tech giant recently announced plans to manufacture all iPhones that will be sold in the US, from India, marking a major manufacturing shift.
India's apparent tariff concession comes amid efforts to secure a deal within a 90-day tariff pause window, which Trump had announced in April. India had been hit with a 26 per cent tariff under Trump’s new trade policy.
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As earlier reported by Business Standard, India was looking to narrow the average tariff differential with the US to under 4 per cent from nearly 13 per cent.
Trump asks Tim Cook not to expand iPhone manufacturing in India
Trump also said he had spoken with Apple CEO Tim Cook, urging him not to expand the company’s manufacturing footprint in India. According to Trump, the discussion led Apple to increase its production investment in the United States instead, in addition to a $500 million investment in US operations.
“I had a little problem with Tim Cook yesterday,” Trump said. “I don’t want you building in India. You can build in India if you want to take care of India... But we want you to build here.”
Trump criticises India's trade barriers
The US President has long criticised India for its high import duties, which can range from around 1 per cent for raw materials and mineral fuels to as high as 100 per cent on specific agricultural products, including dairy and meats. Automobiles are another sensitive area, with passenger vehicle imports facing duties of about 70 per cent. Trump had announced a blanket 25 per cent tax on all auto and auto-part imports to the US.
Trump has also criticised India's trade barriers during his first presidency. In 2019, his administration had even revoked India’s preferential trade status under the Generalised System of Preferences (GSP).
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