India is planning to establish a dedicated bench within the National Company Law Tribunal (NCLT) to handle cross-border insolvency cases, as part of efforts to improve resolution timelines and align the country�s insolvency framework with global standards.
The proposed development, outlined in the past week, will come into effect once new rules under the Insolvency and Bankruptcy Code (IBC) are notified. The specialised bench is expected to comprise members trained in handling cross-border insolvency matters, reflecting the increasing complexity of cases involving overseas assets and multiple jurisdictions.
The initiative is linked to recent amendments to the IBC, which incorporate a…