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Govt should now focus on strengthening the NCLT

The government has done well not to extend the Insolvency and Bankruptcy Code (IBC) suspension, which ended on Wednesday. This will enable resuming normal activity under the Code. The corporate insolvency resolution process was suspended in March 2020 for six months because of Covid-19-related disruptions, and was later extended twice for three months each. The idea was to protect firms from being dragged into the insolvency process for potential defaults because of Covid-related shutdowns. A complete halt in operations for months can make debt repayment difficult even for better-run companies. While the government’s initial intention was right, the suspension should