 "NCLT yet to fire fully with over half of admitted cases still unresolved")
It’s two years since the Insolvency and Bankruptcy Code (IBC) was set in place, but we still have some distance to go. Of the 1,484 cases admitted at the NCLT (up to end-December 2018) under the corporate insolvency resolution process (CIRP), 898 are yet to be resolved. Of these, 31 per cent have already exceeded the 270-day timeline, the maximum timeframe for the resolution process under the IBC.
The number of such CIRPs worsened to 275 by end-December from 238 at end-September of the same year; another 18 per cent have crossed the 180-day timeline. During the period, of the CIRPs which yielded resolution, the average duration was 354 days compared to 340 days.
The number of such CIRPs worsened to 275 by end-December from 238 at end-September of the same year; another 18 per cent have crossed the 180-day timeline. During the period, of the CIRPs which yielded resolution, the average duration was 354 days compared to 340 days.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%