Icra urges a separate framework for small-ticket insolvency cases to ease NCLT burden & expedite larger resolutions. Delays persist in CIRP despite IBC amendments.
Mumbai, Jun 3 (PTI) Rating agency Icra on Wednesday pitched for a separate framework for small-ticket insolvency cases before they reach the National Company Law Tribunal (NCLT), saying such a mechanism would reduce pressure on the tribunal and help expedite admissions for larger accounts.
“Icra believes that there is a necessity for a separate framework for small ticket-size cases before approaching the NCLT to reduce the burden on the benches and thereby expediting admissions for larger ticket-size cases,” the agency said in a report titled ‘Performance Update: Insolvency and…