The Supreme Court of India took suo motu cognisance of delays in NCLT resolution plan approvals, calling the situation “grim”. It flagged manpower shortages, warned IBC goals may fail, and directed urgent action as hundreds of cases remain pending nationwide
Given the increasing pressure on businesses, it would be imperative to extend the NCLT moratorium until December 2021, the Assocham said in its representation to the Finance Ministry
The Dhoot family -- erstwhile promoters of the group -- expects a final decision on the settlement offer by the end of this year, provided the lenders and the National Company Law Tribunal (NCLT) agree to it.