NIFTY 50

Aim to put behind 12 large IBC cases by end of this fiscal, says corporate affairs secretary

Updated : January 21, 2019 08:08 PM IST

Corporate affairs secretary Injeti Srinivas on Monday said the 12 large accounts referred under the Insolvency and Bankruptcy Code (IBC) should be behind by the end of this fiscal.

“We have taken comprehensive revive of all these cases and tried to identify where the bottlenecks are, why the delays are taking place. Broadly with all the stakeholders, we have been able to arrive at very good strategy/plan and approach to ensure that in next three months, we should be able to bring them to finality and put this big 12 behind us,” said Srinivas.

He said there is a strong possibility that the primary object of the code will be realised and this will set the foundation for a speedy resolution.

"In future, even 180 days should suffice and there may not need to stress cases for additional 90-days," he added.
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