Panel wants bankruptcy appeals to be decided in three months

National Company Law Appellate Tribunal (NCLAT) should decide appeals filed before it in bankruptcy cases within three months, as timely decision-making at the appellate level is crucial for rapid resolution of distressed companies, the Lok Sabha select committee that reviewed the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has said.

- Gireesh Chandra Prasad

Committee endorsed futuristic reforms in the bill. ISTOCKPHOTO

(ISTOCKPHOTO)

The original bill had proposed a 14-day window for admission of bankruptcy proceedings in National Company Law Tribunal (NCLT), the first judicial platform where a bankruptcy case is heard, but had not proposed any timeline for cases to be decided at the appellate level.