The Supreme Court of India has raised alarms about the significant delays in the National Company Law Tribunal (NCLT) regarding the approval of insolvency resolution plans. The court noted that 383 applications are currently pending, with delays ranging from 48 days to 738 days, and some cases extending nearly four years. Justices J B Pardiwala and K V Viswanathan emphasized that the situation is grim and requires urgent attention to prevent undermining the objectives of the Insolvency and Bankruptcy Code (IBC), enacted in 2016. The court highlighted issues such as inadequate infrastructure, half-day sittings due to changing bench compositions, and a high volume of objections from stakeholders as contributing factors to the delays. Furthermore, there is a severe shortage of tribunal members, with only 28 judicial members and 26 technical members currently serving against a sanctioned strength of 63. The Supreme Court has directed the Insolvency and Bankruptcy Board of India (IBBI) and the NCLT principal bench in New Delhi to provide comprehensive data on pending applications and the reasons for these delays, particularly in light of a case involving AVJ Developers (India), which has seen its resolution plan approval pending for nearly two years.