Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending. Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials. The new year will not only test the mettle of the Insolvency and Bankruptcy Code (IBC), but also of the NCLT and its appellate body NCLAT, as several high-profile cases need to be resolved -- Essar Steel (involving over Rs 80,000 crore alone) and Bhushan Power & Steel (about Rs 45,000 crore due to its lenders) are just a few, experts said. In 2018, over Rs 80,000 crore was recovered from various corporate debtors, which had defaulted payments, under the IBC through ...
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