NCLT has exceeded expectations in terms of deciding cases in 2 yrs: Experts

The Insolvency Code and its cases under the NCLT are noteworthy, especially at a time when there are issues of large loan defaults in the country

Come July, the National Company Law Tribunal (NCLT) would have functioned for two full years. The provisions setting up the NCLT were notified on 1 June 2016. It began functioning on 1 July that year. 

The NCLT was part of the changes introduced under the Companies Act 2013, as a bid to overhaul the commercial disputes resolution system and doing away with the Company Law Boards, and the Board for Industrial and Financial Reconstruction. After the Insolvency and Bankruptcy Code (IBC) was passed, corporate insolvency cases were also made amenable to the NCLT’s jurisdiction.

Two years is nearly not enough