Govt plans steps to speed up disposal of cases under IBC
- Press Release|
- < 1 minute
- By Taxmann
- |
- Last Updated on 23 February, 2021
Latest from Taxmann
FEB 19, 2021
Rachit Sharma, deputy general manager at Taxmann, said:
“… as of February 10, NCLT had just 41 members — 20 judicial and 21 technical. With this strength, the NCLT has to deal with matters arising both under the Companies Act and IBC. Delays in resolution exposes the investors to risk of price fluctuation in stock markets. For lenders, delay adds to the operational losses, destruction of capital, minimum recovery, and increase in the litigation cost. The government is taking steps to de-clog the NCLT, Sharma said. “The government has proposed to implement the ‘pre-packaged’ insolvency. Its implementation would further reduce the burden on NCLT as it requires minimum intervention by the tribunal,”
Read the Full Article Here: Govt plans steps to speed up disposal of cases under IBC
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
