- Company law tribunals must therefore remain mindful that inordinate delays cause commercial uncertainty, degradation in the value of the corporate debtor and makes the insolvency process inefficient and expensive.
By Utkarsh Anand, Hindustan Times, New Delhi
UPDATED ON SEP 14, 2021 04:27 AM IST
The Supreme Court on Monday said judicial delay was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to strictly adhere to the timelines under the new law and clear pending resolution plans.
A bench of Justices DY Chandrachud and MR Shah emphasised that the IBC mandates a 330-day outer limit for conclusion of the corporate insolve…
Read the full article at: https://www.hindustantimes.com/business/sc-urges-company-tribunals-to-quickly-clear-ibc-cases-101631573560070.html
