The Ministry of Corporate Affairs provided data on appeals filed with the National Company Law Appellate Tribunal (NCLAT) against National Company Law Tribunal (NCLT) orders for the financial years 2022-23, 2023-24, and 2024-25. NCLAT hears appeals under the Insolvency and Bankruptcy Code (IBC), Companies Act, 2013, and Competition Act, 2002. While total appeals filed increased from 2,435 in 2022-23 to 3,379 in 2024-25, data on how many were upheld, set aside, or remanded, as well as further appeals to the Supreme Court, is not maintained. The Ministry noted that average disposal times cannot serve as an accurate performance indicator due to case complexity and stage-wise procedures. Nevertheless, the IBC has been effective in corporate insolvency resolution, contributing significantly to recovery of non-performing assets. Acc2ording to the RBI report for 2023-24, scheduled commercial banks recovered ₹96,325 crore through various channels, of which ₹46,340 crore (48.1%) was via the IBC.

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS

RAJYA SABHA
UNSTARRED QUESTION NO. 1014
ANSWERED ON TUESDAY, THE 9TH OF DECEMBER 2025
[18 AGRAHAYANA, 1947 (SAKA)]

APPEALS FROM NCLT TO NCLAT AND SUPREME COURT

QUESTION

1014. DR. SASMIT PATRA

Will the Minister of CORPORATE AFFAIRS be pleased to state:

a. the number of appeals filed before NCLAT against orders of NCLT during financial years 2022-23, 2023-24 and 2024-25, and number of those appeals which were upheld, set aside/overturned and remanded back to NCLT;

b. out of the appeals disposed by NCLAT in this period, how many further appeals were filed in Supreme Court and how many of these appeals have been upheld, set aside, and remanded again;

c. the average time taken in the disposals of such cases by NCLAT and Supreme Court from their orders by NCLT and NCLAT respectively; and

d. whether this data signal a positive indicator for IBC performance?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF CORPORATE AFFAIRS; AND MINISTER OF STATE IN THE MINISTRY OF ROAD TRANSPORT AND HIGHWAYS

(HARSH MALHOTRA)

(a) & (b) The National Company Law Appellate Tribunal (NCLAT) hears appeals filed against the orders of the (i) National Company Law Tribunal (NCLT) & National Financial Regulatory Authority (NFRA) under the Companies Act, 2013; (ii) NCLT & Insolvency and Bankruptcy Board of India (IBBI) under the Insolvency and Bankruptcy Code, 2016 (IBC); and (iii) Competition Commission of India (CCI) under the Competition Act, 2002. The number of appeals filed and disposed of during the years 2022-23; 2023­24 and 2024-25 under the aforesaid Acts is enclosed at Annexure. Data regarding orders of NCLT which were upheld, set aside/overturned, remanded back is not maintained. Further, data in respect of further appeals filed in Supreme Court and how many such appeals have been upheld, set aside and remanded again is not maintained.

(c) & (d) Keeping in view the differences in the nature and kind of cases, their complexity, stage-wise procedures involved, average time taken for disposal of cases by NCLAT and Supreme Court from their orders by NCLT and NCLAT respectively, would not be an accurate indicator of performance. National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) are quasi-judicial bodies who have been discharging their functions in accordance with relevant provisions of the concerned Acts. They have played an important role in resolving insolvency of corporate businesses. The IBC has proven to be an effective channel for recovering Non Performing Assets for Scheduled Commercial Banks (SCBs). The report of Reserve Bank of India on Trends and Progress of Banking in India for 2023-24 (released on December 26, 2024) highlights that SCBs recovered a total of ₹96,325 crore through various channels. Out of this, the IBC channel alone contributed a significant ₹46,340 crore, accounting for 48.1% of the total recoveries.

Annexure

Year 2022-23

Year 2023-24

Year 2024-25