Such a review will likely bring down delays in the admission and resolution of such cases in the bankruptcy court, the official said.
"There are delays in admission stage," Joshi told reporters after a review meeting of MD and CEOs of public sector banks and other state-owned financial institutions, including the National Asset Reconstruction Co. Ltd (NARCL).
The government had called the meeting to review cases pending long for admission and resolution under IBC, and look for ways to clear up the pendency.
The review had become important given that in several IBC cases, over one year is spent just to get the matter admitted in tribunals, while the resolution process itself stretches far beyond the 360day timeline.
Bu hikaye Mint Mumbai dergisinin December 23, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin December 23, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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