business / news / / The Economic Times
The Supreme Court is addressing significant delays in approving resolution plans at the National Company Law Tribunal.
The Supreme Court has ordered IBBI and NCLT to provide nationwide data on pending resolution plan approvals.
KEY POINTS
- SC intervention follows a two-year delay in AVJ Developers' resolution plan approval at Delhi NCLT.
- NCLT Delhi bench must specify the number, duration, and reasons for unresolved resolution plan applications.
- IBBI and NCLT must submit their detailed reports within two weeks for Supreme Court review on April 29.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →