Parl panel for dedicated NCLT, NCLAT courts for IBC cases

A meeting of the parliamentary panel on finance on Thursday discussed the need to make some provisions of the Insolvency and Bankruptcy Code (IBC), 2016, more robust, especially setting up "dedicated" National Company Law Tribunal (NCLT) and National Law Appellate Tribunal (NCLAT) courts to expedite cases.

- ARCHIS MOHAN

With the government set to introduce amendments to the code in the Monsoon Session, the Parliamentary Standing Committee on Finance has expanded its agenda of reviewing the functioning of the IBC.

Until now, it has tried to understand the perspectives of the banks. In its subsequent meetings, it will examine its impact on the industry, especially the micro, small and medium enterprises (MSME) sector. It could submit its report on the IBC during the monsoon session, sources said.