Lucknow: The PHD Chamber of Commerce and Industry (PHDCCI) successfully organised a conference on IBC Pulse on January 31, 2026, at Hotel Hyatt Regency, Lucknow, highlighting emerging trends, challenges, and reforms under the Insolvency and Bankruptcy Code (IBC), 2016. The conference strongly emphasised the urgent need to strengthen the National Company Law Tribunal (NCLT) framework to ensure faster and more effective insolvency resolution.
Uttar Pradesh Deputy Chief Minister Brajesh Pathak underlined the key reasons behind loan defaults and stressed the importance of strengthening India’s credit culture and banking reforms to enable sustainable industrial growth. He highlighted the crucial role played by the IBC in the recovery of non-performing assets (NPAs) and noted significant improvements in credit culture and economic growth in Uttar Pradesh.
Chairperson, DRAT Allahabad, Justice Rajesh Dayal Khare, stated that the IBC has played a transformative role in resolving stressed assets and reintegrating blocked capital back into the financial system.
In his welcome address, G.P. Madan, Chair, PHDCCI NCLT and IBC Committee, said that insolvency resolution and the IBC have become complementary pillars of India’s corporate ecosystem. Citing data, he noted that gross NPAs have declined to around 2.2 percent and net NPAs to nearly 0.5 percent, remarking that “the best use of IBC is not to use it.” He also announced that PHDCCI would continue organising such programmes to enhance awareness and understanding of the NCLT and IBC framework.
Senior Advocate and President, NCLT Bar Association, Dr. U.K. Chaudhary, stressed the need to increase the number of NCLT benches and members and to upgrade infrastructure to reduce case pendency and industrial disputes.
NCLT Member (Judicial) Praveen Gupta highlighted progressive developments under the IBC, including the shift from debtor-in-possession to creditor-in-control mechanisms and the growing relevance of cross-border insolvency. Prof. (Dr.) Amar Pal Singh, Vice Chancellor, Dr. Ram Manohar Lohiya National Law University, emphasised that banking reforms are an integral part of the evolving IBC system and called for effective implementation of ease-of-doing-business measures, particularly to strengthen MSMEs and entrepreneurship.
The technical sessions were chaired by former NCLT members L.N. Gupta, Rajshekhar V.K., and Dr. Deepti Mukesh, and moderated by PHDCCI NCLT and IBC Committee Co-Chairpersons Ranjana Gavai, Abhishek Anand, Rachit Mittal, and Harish Taneja. Discussions focused on changes in CIRP, insolvency of personal guarantors, and liquidation practices under the IBC.
The conference witnessed participation from over 150 delegates from across the country, reflecting strong national interest in further strengthening India’s insolvency resolution framework.
