A majority of corporate insolvency cases have been resolved and the focus is now on resolving personal insolvency, Corporate Affairs Secretary Injeti Srinivas said on Monday.
Commendable speed
The speed at which the cases have been disposed [of] by the NCLT [National Company Law Tribunal] has been commendable, Mr. Srinivas said, speaking at a national conference on the Insolvency and Bankruptcy Code organised by CII and the British High Commission.
But the IBC should be invoked only as a last resort, he added.
A majority of corporate insolvency, which has led to burgeoning of [non-performing assets] NPAs, has been settled and the attempt is now on resolving personal insolvency, he said.
On dealing with personal insolvency, Mr. Srinivas sai…
Read the full article at: https://www.thehindu.com/business/focus-is-now-on-personal-insolvency-injeti-srinivas/article26637045.ece