This refers to “Amendment of IBC on cards to ensure NCLT is obeyed
” (February 14 ). This is a welcome move by the government. The recent judgment of Supreme Court clearing the National Company Law Tribunal
(NCLT) to take a decision on ArcelorMittal's bid is genuinely a stimulant to this process.
The matter was already delayed by 571 days against the NCLT deadline of 270 days. In order to successfully roll out the non-performing assets (NPAs) resolution process, it is necessary to give a free hand to the NCLT so that there aren't unnecessary delays.
All efforts should be made to make the Insolvency
and Bankruptcy Code a success.
Partha Sarathi Mukhopadhyay, Nagpur
The Editor, Business Standard
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