NCLT approves 45 resolution plans, orders 19 liquidations in 2 years of IBC

Of these resolution plans, at least 12 are being implemented, while four are being contested at NCLAT

The National Company Law Tribunal (NCLT) has sanctioned 45 resolution plans almost two years after the first set of insolvent corporates were taken for proceedings under the Insolvency and Bankruptcy Code (IBC), according to a report by Debtwire Asia.

Further, the NCLT has ordered for the liquidation of 19 companies since proceedings under the IBC officially began at the end of December 2016.

Of these resolution plans, at least 12 are being implemented while four are being contested at the National Company Law Appellate Tribunal (NCLAT). Debtwire Asia says there is a lack of public information on the implementation status