Govt Disposes 2,750 Cases Under Insolvency and Bankruptcy Code

By Religare
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    After notification of relevant provisions of the Insolvency and Bankruptcy Code 2016, the government has disposed 2,750 cases, says P.P. Chaudhary, Minister of State for Corporate Affairs in written reply to a question in Rajya Sabha on Tuesday.

    Govt Disposes 2,750 Cases Under Insolvency and Bankruptcy Code

    "2,434 fresh cases have been filed before NCLT and 2,304 cases of winding up of companies have been transferred from various High Courts. Out of these, a total number of 2,750 cases have been disposed of and 1,988 cases were pending as on November 30, 2017," P.P. Chaudhary said in a press release.

    As per information received from Public Sector Banks (PSBs), as on November 30, 2017, an amount of Rs. 39.63 crore had been realized after filing of cases with NCLT, and an amount of Rs. 2.89 crore had been borne by the banks as haircut, he added.

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