The resolution of corporate debtors under the Insolvency and Bankruptcy Code (IBC), nearly two years since its inception, is facing a significant challenge to resolve cases in a time-bound manner.
Delays in the Corporate Insolvency Resolution Process (CIRP) and the significant rise in the number of applications being moved against defaulting corporations, are a burden on the existing infrastructure of the National Company Law Tribunal (NCLT), an Icra report has stated. the growing number of applications has already challenged the infrastructure of the NCLT, …
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