Top court also stressed the need of “time-bound” disposal of corporate insolvency resolution process
The Supreme Court on Thursday said the time taken up by litigations during the corporate insolvency resolution process has to be excluded from the mandatory limit of 270 days in case company law tribunals uphold the plan to revive a debt-ridden company.
The top court, in an important ruling, also stressed the need of “time-bound” disposal of corporate insolvency resolution process saying it would not only support the development of “credit markets and encourage entrepreneurship, but would also improve ease of doing business and facilitate more investment, leading to higher economic growth and development”.
A reasonable and balanced…
Read the full article at: https://www.ndtv.com/india-news/insolvency-cases-excluded-from-270-day-norm-at-tribunals-top-court-1927204
