Within a year of the National Company Law Tribunal (NCLT) starting operations from June 2016, a total of 81 companies which had taken loans to the tune of Rs 14,260 crore have pleaded with the body seeking permission to be declared bankrupt under the Insolvency and Bankruptcy Code 2016.
According to the NCLT, 81 cases have been registered in all till 20 May this year under the Insolvency and Bankruptcy Code 2016, out which 32 defaulting companies wilfully approached the NCLT. The rest of the companies were asked by the NCLT to present their case for not being able to repay the debt.
As per the insolvency code, the NCLT will constitute a debt repayment committee for assessment of the loan and repayment capacity of these companies. In c…
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