Insolvency related matters account for lion’s share of backlog of NCLT cases with number of pending cases at 12,351 as of December 31, 2024. This is out of total pendency of 20,484 cases at NCLT as of December 31,2024, Lok Sabha was informed on Monday.
The remaining 8,133 cases at NCLT is related to Companies Act 2013, Nirmala Sitharaman, Finance and Corporate Affairs Minister said in a written reply to a starred question in Lok Sabha.
She highlighted that there are several reasons for the pendency of cases in NCLT which,inter-alia depends on circumstances and complexity of each case, nature of evidence, number of interlocutory applications, stay by higher courts in many cases, cooperation of stakeholders and adjournments.
To facilitate expeditious disposal, government is taking necessary steps on an ongoing basis, which includes implementation of e-court and hybrid court project, regular colloquiums for capacity building of members, provision of infrastructure, filling up of vacancies etc.
Meanwhile, Harsh Malhotra, Minister of State for Corporate Affairs, told Lok Sabha on Monday that 40,943 applications have been filed under IBC, out of which 28,818 applications have been resolved even before admission. This is big achievement and the amount involved through this is about ₹10 lakh crore, he said. Along with this, 1,119 have gone into resolution and 1598 cases is voluntary liquidation and ongoing litigation is 1983 cases. Total number of cases admitted under IBC is 8175 only, he added.
