Updated December 3rd, 2019 at 16:43 IST
10,860 cases under IBC pending before NCLT at the end of September: Government
As many as 10,860 cases under the Insolvency and Bankruptcy Code were pending before the NCLT at the end of September 2019, the government said.
Advertisement
As many as 10,860 cases under the Insolvency and Bankruptcy Code were pending before the National Company Law Tribunal at the end of September 2019, Parliament was informed on Tuesday. "As per the data provided by National Company Law Tribunal (NCLT), total 19,771 cases were pending with NCLT benches on 30.09.2019, which include 10,860 cases under Insolvency and Bankruptcy Code (IBC), 2016," Minister of State for Finance and Corporate Affairs Anurag Singh Thakur said in a written reply to the Rajya Sabha.
READ | Chandrayaan 2: Before NASA, Indian techie spotted lost Vikram lander on lunar surface
READ | SENSATIONAL: Rape-accused Nithyananda sets up 'Kailaasa' island nation; seeks sovereignty
Action is taken as per the provisions of the Code in all these cases
In a separate reply, the minister said that out of 18,782 cases filed under IBC, 2016 at the end of June 2019, 2,173 cases were admitted under the Code. "Out of 2,173 admitted cases, 1,274 cases were ongoing under different stages of the resolution process, 129 cases have resulted in resolution, 491 cases have been approved for the commencement of liquidation process, 279 cases have been closed," he said. The action is taken as per the provisions of the Code in all these cases admitted under the Code, Thakur added.
READ | Justice for Disha: Lone witness recounts Hyderabad horror; narrates phone call to police
READ | Rajeev Dhawan says 'Clients claims of my ill-health untrue'; AIMPLB condemns sacking
Advertisement
Published December 3rd, 2019 at 16:35 IST