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10,860 cases under IBC pending before NCLT at the end of Sept

The minister said that out of 18,782 cases filed under IBC, 2016 at the end of June 2019, 2,173 cases were admitted under the Code

Press Trust of India  |  New Delhi 

MoS Finance Anurag Thakur and FM Nirmala Sitaraman at a press confrence in New Delhi (Photo- Sanjay K Sharma)
MoS Finance Anurag Thakur and FM Nirmala Sitaraman at a press confrence in New Delhi (Photo- Sanjay K Sharma)

As many as 10,860 cases under the Insolvency and Code were pending before the National Company Law Tribunal (NCLT) at the end of September 2019, Parliament was informed on Tuesday.

"As per the data provided by National Company Law Tribunal (NCLT), total 19,771 cases were pending with benches on 30.09.2019, which include 10,860 cases under Insolvency and Code (IBC), 2016," Minister of State for and Corporate Affairs Anurag Singh Thakur said in a written reply to the Rajya Sabha.

In a separate reply, the minister said that out of 18,782 cases filed under IBC, 2016 at the end of June 2019, 2,173 cases were admitted under the Code.

"Out of 2,173 admitted cases, 1,274 cases were ongoing under different stages of resolution process, 129 cases have resulted in resolution, 491 cases have been approved for commencement of liquidation process, 279 cases have been closed," he said.

The action is taken as per the provisions of the Code in all these cases admitted under the Code, Thakur added.

First Published: Tue, December 03 2019. 16:15 IST
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