Insolvency associated issues account for lion’s share of backlog of NCLT instances with variety of pending instances at 12,351 as of December 31, 2024. That is out of whole pendency of 20,484 instances at NCLT as of December 31,2024, Lok Sabha was knowledgeable on Monday.
The remaining 8,133 instances at NCLT is said to Corporations Act 2013, Nirmala Sitharaman, Finance and Company Affairs Minister mentioned in a written reply to a starred query in Lok Sabha.
She highlighted that there are a number of causes for the pendency of instances in NCLT which,inter-alia depends upon circumstances and complexity of every case, nature of proof, variety of interlocutory functions, keep by larger courts in lots of instances, cooperation of stakeholders and adjournments.
To facilitate expeditious disposal, authorities is taking crucial steps on an ongoing foundation, which incorporates implementation of e-court and hybrid court docket venture, common colloquiums for capability constructing of members, provision of infrastructure, filling up of vacancies and so on.
In the meantime, Harsh Malhotra, Minister of State for Company Affairs, advised Lok Sabha on Monday that 40,943 functions have been filed underneath IBC, out of which 28,818 functions have been resolved even earlier than admission. That is huge achievement and the quantity concerned by way of that is about ₹10 lakh crore, he mentioned. Together with this, 1,119 have gone into decision and 1598 instances is voluntary liquidation and ongoing litigation is 1983 instances. Whole variety of instances admitted underneath IBC is 8175 solely, he added.
