CA. Prasanna Kumar D
The Vice-President, ICAI
India’s insolvency and valuation ecosystem has witnessed notable transformation in recent years, driven by policy refinements, judicial developments, and evolving stakeholder expectations. The Insolvency and Bankruptcy Code (IBC) continues to serve as a cornerstone for corporate debt resolution, with enhanced focus on transparency, timeliness, and value maximisation. In FY 2025, despite a 28% drop in the number of admitted CIRP cases, creditor recoveries touched a record high of ₹67,000 crore indicating better outcomes in high-value resolutions and an increasingly mature framework. The introduction of simplified processes and digital platforms is further improving accessibility and efficiency in resolution procedures, while new valuation norms are strengthening due diligence and asset assessment across sectors.
Amid ongoing reforms, the valuation profession is also evolving rapidly, with increasing emphasis on global best practices, fair value standards, and sector-specific expertise. Regulatory bodies like the IBBI and ICAI are playing a key role in capacity building and standard setting to align valuation practices with international benchmarks. As India looks ahead, the focus remains on reducing resolution timelines currently averaging over 700 days and expanding the ecosystem to include group insolvency, cross-border frameworks, and pre-packaged solutions for MSMEs. These forward-looking initiatives are set to reinforce investor confidence, ensure equitable stakeholder outcomes, and position India as a resilient and investor-friendly insolvency and valuation jurisdiction.
India’s insolvency landscape witnessed mixed developments in FY 2025, with a marginal decline in the number of approved resolution plans and a sharp drop in cases admitted under the Corporate Insolvency Resolution Process. As per an analysis report by ICRA, the number of resolution plans approved by the National Company Law Tribunal under the Insolvency and Bankruptcy Code showed a marginal dip to 259 cases from 263 cases approved in FY 2024. At the same time, it added, the number of cases admitted in the corporate insolvency resolution process dipped sharply to 724 from 1,003, reporting a decline of nearly 28 per cent.
While Q4 FY-2025 has seen peak realisations of approximately 70 per cent against admitted claims, ICRA maintained that a sustained momentum would be needed to minimise haircuts for lenders, which remain high at 67 per cent.
In line with its unwavering commitment to advancing excellence in the fields of insolvency and valuation, The Institute of Chartered Accountants of India (ICAI) has taken significant strides in strengthening the institutional framework through the development and promotion of robust valuation standards. These standards, particularly in the domain of Securities or Financial Assets, have brought greater consistency, objectivity, and reliability to valuation practices, thereby reinforcing stakeholder confidence and supporting the broader goals of the insolvency regime. Recognizing the critical role that skilled professionals play in driving economic recovery and corporate turnaround, ICAI continues to invest in capacity building and global knowledge exchange to equip Insolvency and Valuation Professionals with the tools necessary to address evolving challenges.
To further this vision, Institute of Chartered Accountants of India (ICAI) is proud to host RESOLVE-2025, the 3rd edition of International Convention on Insolvency and Valuation and hosted by WIRC of ICAI. This landmark convention is scheduled on 01st and 02nd December 2025 at Hotel Aurika, Mumbai International Airport.
This premier platform will convene leading voices from across jurisdictions to deliberate on emerging trends, regulatory developments, and global best practices shaping the future of insolvency and valuation. The convention aims to foster cross-border collaboration, promote thought leadership, and reinforce India’s growing influence in the international insolvency and valuation ecosystem.
Join us at “RESOLVE-2025” for an immersive international convention that brings together leading minds in insolvency, valuation, and economic revitalization.