Even as the National Company Law Tribunals (NCLT) remain over-burdened with innumerable litigations, the four-year old Insolvency and Bankruptcy Code (IBC) is expected to improve realisations for financial creditors to over 80,000 crore by fiscal year 2020, compared to about 66,000 crore recoveries last year, said ratings agency ICRA Ltd. in a press note.
That is despite a 32% increase in the number of on-going cases to 1,143, which have crossed the maximum allowed time of 270 days at NCLT, as of March 31. The highest quarterly admissions came in the fourth quarter of fiscal 2019 at 359 cases. The total number of cases being admitted to the NCLT, according to ICRA, will continue to increase, especially from the operational creditors …
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