NEW DELHI: National Company Law Tribunals (NCLT) across the country admitted a total of 283 companies into insolvency amid the pandemic after the announcement of the nationwide lockdown last year.
In a written reply to the Lok Sabha, the minister of state for corporate affairs, Anurag Thakur, also said that during the period of April 1, 2020 and December 31, 2020, a total of 76 corporate insolvency resolution processes (CIRP) ended in resolution, 128 CIRPs were closed due to withdrawal or appeal or settlement and 189 companies went into liquidation.
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Further, the government temporarily suspended the initiation of CIRP under Section 7, 9 and 10 of the Code for a period of six months or such further period not exc…
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