Consistently receiving plans where Operational Creditors are not paid any amount towards their claim: NCLAT

The Appellate Tribunal urged the government to review the scheme regarding payment to operational creditors in the insolvency process.
Ashok Bhushan and NCLAT
Ashok Bhushan and NCLAT

The National Company Law Appellate Tribunal (NCLAT) on Monday urged the Central government and the Insolvency and Bankruptcy Board of India (IBBI) to consider making changes to the legislative scheme in order to facilitate equitable distribution of payments to operational creditors in the insolvency process [Damodar Valley Corporations v. Dimension Steel and Alloys & Ors].

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