Business

Govt looks at dedicated NCLT benches for insolvency, Companies Act-related matters

Recently, the government had legislated changes to the insolvency code to fast-track processing of cases where a restructuring plan has been agreed in advance between the company and its creditors following the pause in bankruptcy resolutions because of the COVID-19 pandemic. Once the changes to the IBC are approved by Parliament, this pre-packaged insolvency procedure will help ease the burden on bankruptcy courts.

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