Alvarez & Marsal calls for beefing up machinery, judicial Bench strength
New Delhi, January 17:
The Corporate Affairs Ministry (MCA) and the Insolvency and Bankruptcy of India (IBBI) should limit the number of pending bankruptcy and insolvency cases referred to the National Company Law Tribunal, an Alvarez & Marsal report has suggested.
NCLT, which was constituted on June 1, 2016, has been positioned as the single adjudication authority for corporate default cases.
With over 25,000 pending corporate insolvency cases expected to move from various forums to NCLT, there is now major concern as to whether the tribunal will be able to cope with the projected case load.
Our suggestion is dont overload NCLT at …
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