Opinion | How Is The Bankruptcy Code Helping RBI Crack Down On Insolvency?

About 18 months after India’s new bankruptcy law came into force, it will face its first test later this month when the resolution plan for Kolkata-based Nicco Industries is adjudicated. Whether the sick company can be restructured or shut down swiftly  within 180 days of the case being registered. Over 1,000 applications for resolution have been filed, more than 100 of which have been admitted by the arbiter, the National Company Law Tribunal or NCLT, which is expected to decide on the fate of many non-financial firms within 180 days.