New Delhi, April 21 -- Expressing serious concern over delays in the approval of resolution plans under the insolvency regime, the Supreme Court has directed the National Company Law Tribunal (NCLT)'s principal bench in New Delhi and the Insolvency and Bankruptcy Board of India (IBBI) to furnish comprehensive nationwide data on pending approval applications and the reasons for such delays. A bench of justices JB Pardiwala and KV Viswanathan said that it would decide the "further course of action" after examining the data, as it came across a case where an application seeking approval of a resolution plan had remained pending for nearly two years. Taking note of the situation, the court observed that it was "very unfortunate" that there had been no adjudication on the approval application despite the committee of creditors (CoC) having cleared the plan as far back as July 2024. The application for approval was filed before the NCLT principal bench on July 12, 2024, but continues to remain undecided. The bench noted that this was not an isolated instance and that "many such approval applications are pending" not only before the NCLT principal bench but also across other benches of the tribunal for several years. In a bid to assess the scale of the problem, the court sought specific details, includingthe total number of pending applications for approval of resolution plans, the duration for which such applications have been pending, and the reasons for the delay in their adjudication. It directed the registrar of the NCLT principal bench to submit a report addressing these queries at the earliest. The court also impleaded the IBBI as a party to the proceedings and asked it to furnish nationwide figures and statistics on pending approval applications within two weeks....