New Delhi, April 29 -- More than 380 creditor-approved corporate resolution plans are pending clearance before various benches of the National Company Law Tribunal (NCLT).
The Insolvency and Bankruptcy Board of India (IBBI) and the tribunal are set to apprise the Supreme Court, Mint reported, citing two persons familiar with the development.
The development follows the apex courts direction to the NCLTs Principal Bench in New Delhi to furnish details on pending resolution applications, their duration, and reasons for delays in adjudication.
Court Flags Delay Concerns
The directive came during a hearing in a dispute involving the AVJ Heights Apartment Owners Association and IIFL Finance Ltd on April 16.
The court also impleaded th...