Category: Insolvency

Corporate, Insolvency

Increased IBC Threshold: Still within Reach?

Introduction Since the Insolvency and Bankruptcy Code (‘IBC’ or ‘the Code’) has been implemented with the adjudicatory powers being bestowed upon the National Company Law Tribunal (‘NCLT’), as many as 12,000 cases have been filed as in March 2019.[1] By the end of September 2019, the number of cases pending under IBC before the NCLT was 10,860.[2] This heavy burden on the NCLT is likely … Continue reading Increased IBC Threshold: Still within Reach?

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Corporate, Insolvency

Debt Recovery Tribunals In An IBC-Era: A Progressive Redundancy

The early years of the 21st century witnessed a devastating need for a special tribunal to adjudicate the perpetual customer-debt crisis faced by banks and other financial institutions including the massive default of business loans taken by private sector companies. The functioning of Debt Recovery Tribunals achieved a perpendicular success; the efficient quasi-judicial settlement did not stray too much from litigation but the burden on … Continue reading Debt Recovery Tribunals In An IBC-Era: A Progressive Redundancy

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