Amendment of IBC on cards to ensure NCLT is obeyed

HomeNews ArticlesNCLT

Amendment of IBC on cards to ensure NCLT is obeyed

All efforts should be made to make the Insolvency and Bankruptcy Code a success

NCLAT to hear ArcelorMittal’s plea on EPC Construction on August 8
Apex court stays NCLAT verdict in Essar Steel insolvency case
Lenders to Essar may drop case against ex-promoters

This refers to “Amendment of IBC on cards to ensure NCLT is obeyed” (February 14 ). This is a welcome move by the government. The recent judgment of Supreme Court clearing the National Company Law Tribunal (NCLT) to take a decision on ArcelorMittal’s bid is genuinely a stimulant to this process.

The matter was already delayed by 571 days against the NCLT deadline of 270 days. In order to successfully roll out the non-performing assets (NPAs) resolution process, it is necessary to give a free hand to the NCLT so that there aren’t unnecessary delays.

All efforts should be made to make the Insolvency and Bankruptcy Code a success.

Source- Business Standard.