Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

IBC resolution still pending in 1,988 cases: Govt

Author: IANS/Wednesday, December 20, 2017/Categories: Government

IBC resolution still pending in 1,988 cases: Govt

New Delhi, Dec 19 - More than 2,700 cases have been disposed off after the notification of the "relevant provisions" of the Insolvency and Bankruptcy Code 2016, the Rajya Sabha was informed on December 19.

According to Minister of State for Law & Justice and Corporate Affairs P.P. Chaudhary, till November 30, 2017 cases have been disposed off under the IBC and 1,988 cases were pending.

"After notification of relevant provisions of the Insolvency and Bankruptcy Code 2016 on December 1, 2016, 2,434 fresh cases have been filed before NCLT (National Company Law Tribunal) and 2,304 cases of winding up of companies have been transferred from various High Courts," Chaudhary said in a written reply to a question in the Rajya Sabha.

"Out of these, a total number of 2,750 cases have been disposed off and 1,988 cases were pending as on November 30, 2017."

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

Print Rate this article:
No rating

Number of views (91)/Comments (0)

Kavita Giridhar Mallya

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.