Insolvency and Bankruptcy Code: Over 2,400 fresh cases filed before NCLT
Published: Dec 19, 2017
By TIOLCORPLAWS News Service
NEW DELHI, DEC 19, 2017: After notification of relevant provisions of the Insolvency and Bankruptcy Code 2016 on December 1, 2016, 2,434 fresh cases have been filed before NCLT and 2,304 cases of winding up of companies have been transferred from various High Courts. Out of these, a total number of 2,750 cases have been disposed of and 1,988 cases were pending as on November 30, 2017.
As per information received from Public Sector Banks (PSBs), as on November 30, 2017, an amount of Rs. 39.63 cr had been realized after filing of cases with NCLT, and an amount of Rs. 2.89 cr had been borne by the banks as haircut.
This was stated by the Minister of State for Law & Justice or Corporate Affairs, Mr. P.P. Chaudhary, in reply to a question in Rajya Sabha today.