Deepika Kumari Calls for Systemic Reforms Amid Lengthy IBC Resolution Times
Deepika Kumari has highlighted critical challenges facing the Insolvency and Bankruptcy Code (IBC) process in a recent article titled ‘IBC Resolution Approval Time Surpasses Two Years’ published by BusinessLine.
Deepika pointed out that the significant delays in IBC resolution approval times are largely due to the overburdened National Company Law Tribunal (NCLT), which is grappling with limited capacity and staffing shortages. Additionally, the complexity of cases, which often require extensive negotiations and judicial scrutiny, further complicates and prolongs the resolution process.
“Frequent litigation, challenges in asset valuation, procedural inefficiencies, and promoter resistance further contribute to these prolonged timelines, highlighting the urgent need for systemic reforms to streamline the insolvency process and ensure timely resolutions,” said Deepika Kumari.
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