The Insolvency and Bankruptcy Code was touted as the law that would extract the highest possible value from the asset within a specific time. The IBC was touted as the law that would extract the highest possible value from the asset within a specific time. Five out of the first set of 12 biggest insolvency cases have now extended well past the deadline. The respective National Company Law Tribunal (NCLT) benches have approved the extension of timing in these cases. However, in most big cases that have followed, NCLT benches haves asked for bids beyond the deadline to be considered.

Source: Mint May 07, 2018 05:15 UTC