New Delhi, Aug 31 () The NCLT has so far decided more than 655 cases under the Insolvency and Bankruptcy Code while all efforts are made to stick to the timelines, the tribunal’s President Justice M M Kumar said today.
The Code, which provides for a market-determined and time-bound resolution of insolvency proceedings, became operational in December 2016.
A case is taken up for resolution under the Code only after getting clearance from the National Company Law Tribunal (NCLT) and subsequently, an insolvency professional is appointed.
“We have already decided at the NCLT more than 655 cases under the IBC. We have made all efforts to keep the time line,” Kumar said here at an event to launch a book and a website on the C…