- Challenges:
- Only 15% of cases admitted to NCLT ended in Resolution; rest went for Liquidation.
- Few benches of NCLT, leading to delays in resolution.
- Cross-border insolvency framework not yet implemented.
- Addressing Challenges:
- Increase NCLT benches and capacity.
- Streamline legal proceedings to adhere to timelines.
- Implement cross-border insolvency framework.
- Focus on maximizing asset value through resolution rather than liquidation.