Supreme Court judge Justice Pankaj Mithal on Monday expressed serious concern over the increasing caseload before insolvency forums, noting that more than 18,000 cases were pending across various benches.
Speaking at the Constitution Club of India in New Delhi during an event organised by the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) Bar Association to mark 10 years of the tribunals, Justice Mithal described pendency as a continuing and serious systemic challenge.
He said that although growing public confidence in the tribunal mechanism has led to a surge in filings, statutory timelines under the Insolvency and Bankruptcy Code (IBC) are…