The present disclosure provides a process for regenerating the deactivated ionic compound. The process involves mixing a deactivated ionic compound with at least one solvent such as ethyl acetate and neutralizing with at least one base such as triethylamine and tert-butyl amine to obtain a precipitate. The obtained precipitate is filtered to obtain a residue which is then washed with a solvent such as dichloromethane to obtain the ionic compound.