'Very Unfortunate' : Supreme Court Flags NCLT Delay In Approving Resolution Plan, Calls For Nationwide Report

In an important development, the Supreme Court has expressed serious concern over prolonged delays in approval of resolution plans by the National Company Law Tribunal (NCLT), calling out a case where a plan has remained pending for nearly two years. A bench of Justice JB Pardiwala and Justice KV Viswanathan directed both the NCLT Principal Bench, New Delhi and the Insolvency and...