In 2018, over Rs 80,000 crore was recovered from various corporate debtors. Photo:istock
New Delhi: Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending.
Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials.
The new year will not only test the mettle of the Insolvency and Bankruptcy Code (IBC), but also of the NCLT and its appellate …
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