Mediation to lower burden for NCLTs & speed up resolutions, say lawyers
Lawyers believe mediation will reduce burden on NCLTs, resolve disputes between operational creditors and defaulting companies faster, especially benefiting manufacturing and real estate sectors. An expert committee recommended voluntary mediation framework under IBC, settling 26,000 applications with Rs 9.33 lakh crore debt before admission at NCLT.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
