More than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far.
With 470 cases admitted by the National Company Law Tribunal (NCLT) under the IBC, most experts are keenly watching the outcome of the first set of 12 big corporate defaulters that lenders have sought to resolve under the RBIs directive in June this year.
In a judicial boost to companies, as on November 2017, over 4300 applications under CIRP (corporate insolvency resolution process) were filed in the various benches of NCLTs, as per RBI data.
However, the success of the NCLT judgments would be on the resolution of the 12 accounts, constituting 25 percent or on…
Read the full article at: http://www.moneycontrol.com/news/business/companies/insolvency-and-bankruptcy-code-what-has-been-done-and-what-lies-ahead-2470017.html
