News & Media 6th Jul 2024

Union Budget 2024: Increase no. of NCLT benches to make IBC more effective, lawyers tell govt

Authors

Mukesh Chand Senior Counsel | Mumbai

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Amid reports suggesting that the Insolvency and Bankruptcy Code (IBC), 2016, may be amended, lawyers have urged the government to revise the code in the 2024 union budget and increase the number of benches at the National Company Law Tribunal (NCLT).

According to the lawyers, increasing the number of benches will reduce pendency, which in turn will strengthen India’s insolvency framework.

To encapsulate on this issue, moneycontrol.com’s Thyagarajan Narendran writes on, “Union Budget 2024: Increase no. of NCLT benches to make IBC more effective, lawyers tell govt” with expert comments from our Senior Counsel, Mukesh Chand.

Read his detailed insights here