Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
6988 pending IBC Cases, No proposal to increase NCLT Bench: MCA responds
The MCA (Ministry of Corporate Affairs) has responded that there are "6,988 pending IBC (Insolvency and Bankruptcy Code) cases" and "no proposal to increase NCLT (National Company Law Tribunal) benches." This statement highlights the significant backlog of insolvency cases in India's tribunals, impacting the efficiency of resolution processes. Despite the high number of pending cases, the government currently does not plan to expand the NCLT's capacity, which could lead to further delays in corporate insolvency resolutions and potentially affect asset realization for creditors.