Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end.
Accusing the Congress of leaving behind a legacy of an “anachronic system” of resolving commercial insolvency, Jaitley said the NDA government acted swiftly to recover the non-performing loans and legislated the insolvency and bankruptcy code (IBC).
He said National Company Law Tribunal (NCLT) had started receiving corporate insolvency cases by the end of 2016 and so far 1,322 cases have been admitted by it. A total of 4,452 cases have been disposed at pre-admission stage and 66 have been resolved after adjudication. 260 cases have …
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