CA. Charanjot Singh Nanda
The President, ICAI
In today’s fast-evolving economic landscape, where business cycles are becoming more volatile and financial risks more complex, the ability to resolve corporate distress efficiently and fairly has become a strategic imperative for national economies. As countries strive to attract global investment and ensure economic stability, robust insolvency and valuation frameworks are no longer optional—they are foundational. Recognizing this, India introduced the Insolvency and Bankruptcy Code (IBC) in 2016, a landmark reform that redefined how financial failure is addressed. Over the years, the IBC has not only provided a transparent and time-bound mechanism for resolution but has also positioned India as a rising force in the global discourse on insolvency and restructuring. Its evolution continues to be marked by regulatory innovation, professional capacity building, and judicial consolidation
As per IBBI, the Code has successfully resolved 3763 CDs (1258 through resolution plans, 1314 through appeal or review or settlement and 1191 through withdrawal) till June 2025. It has referred 2824 CDs for liquidation. The resolved CDs resulted in recoveries exceeding 32.57% against the admitted claims and more than 170.84% against the liquidation value. Resolution plans on average are yielding 94.89% of fair value of the CDs. As of June 2025, 1439 CDs have been completely liquidated. These 1439 CDs together had outstanding claims of Rs.4.26 lakh crore, but the assets valued at Rs. 0.17 lakh crore. Despite this, the liquidation process has delivered a recovery of 90.3% of the liquidation value- highlighting the efficiency and growing maturity of the framework.
ICAI has consistently been at the forefront of shaping and strengthening the insolvency and valuation ecosystem through the development of standards, capacity building of professionals, and promotion of ethical and globally aligned practices. Our efforts reflect a steadfast commitment to enhancing transparency, accountability, and cross-border alignment in the domains of insolvency and valuation.
It is with immense pride that the Institute of Chartered Accountants of India (ICAI), through its Insolvency & Valuation Standards Board (I&VSB), is organizing “RESOLVE-2025”, the 3rd Edition of the International Convention on Insolvency Resolution and Valuation, hosted by WIRC of ICAI. This landmark convention is scheduled on 01st and 02nd December 2025 at Mumbai. Building on the successful legacy of the first two editions, “RESOLVE-2023” in Singapore and “RESOLVE-2024” in New Delhi, the convention has established itself as a premier platform for global thought leadership, cross-border collaboration, and dialogue on insolvency resolution and valuation. Both earlier editions witnessed the participation of eminent regulators, policymakers, jurists, practitioners, and valuation experts, who enriched the discourse with their insights and experiences, setting high benchmarks for professional excellence.
Anchored on the theme “Enabling Resolution, Maximizing Value,” RESOLVE-2025 is designed to be a premier international platform that facilitates dialogue, thought leadership, and exchange of best practices. The convention will bring together a distinguished cohort of global experts, regulators, policymakers, practitioners, and valuation professionals to discuss emerging trends, evolving regulatory frameworks, cross-border insolvency mechanisms.
This third edition reaffirms ICAI’s ongoing commitment to global engagement and professional excellence. It will serve as a dynamic space to learn, collaborate, and shape the future of insolvency and valuation practices.
I extend a warm invitation to all professionals, institutional stakeholders, and international partners to be part of RESOLVE-2025. Let us come together to drive meaningful impact, unlock value, and contribute to a more agile and resilient insolvency framework worldwide.