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SC asks NCLT, NCLAT to strictly adhere to IBC timelines

New Delhi [India], September 13 (ANI): The Supreme Court on Monday urged the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) to strictly adhere to the timelines stipulated under the Insolvency and Bankruptcy Code (IBC) and clear pending resolution plans within the deadline of 330 days.
A bench of Justice DY Chandrachud and Justice MR Shah opined that inordinate delays cause commerc