New Delhi, May 28 (IANS) The Insolvency and Bankruptcy Code, 2016 has significantly strengthened India’s insolvency and credit ecosystem since its enactment, improving recovery mechanisms, boosting creditor discipline and creating a more structured resolution process for distressed entities, according to an official factsheet released on Thursday.As of March 2026, creditors realised approximately Rs 4.32 lakh crore through approved resolution plans under the IBC. Recoveries exceeded 116.85 of …
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New Delhi, May 3 (IANS) In a bid to reduce pendency and accelerate disposal of cases, the government has urged debt recovery tribunals (DRTs) to emulate best practices.In a meeting here, Finance Ministry held deliberations on boosting disposal of cases in debt recovery tribunals. Tribunals were urged to emulate best practices adopted by high-performing debt recovery tribunals (DRTs), its said in a statement.Key areas of discussion included strengthening oversight and monitoring mechanisms within…
Jaipur, April 25 (IANS) Emphasising the growing importance of alternative dispute resolution, CJI Justice Surya Kant on Saturday said mediation offers an effective and expeditious pathway for resolving disputes, and urged citizens to explore mediation centres and Lok Adalats before initiating formal litigation.Addressing a conference at the Constitution Club, Justice Surya Kant likened elderly members of society to a “stepwell” (baoli) — a deep reservoir of wisdom capable of offering soluti…
Jaipur, April 25 (IANS) Chief Justice of India (CJI) Surya Kant on Saturday emphasised the continued importance of retired judges in strengthening the judiciary, likening them to Rajasthan’s traditional “bawris” (stepwells) that serve as vital reservoirs during times of drought. Addressing a one-day seminar titled ‘The Bench Beyond Retirement’ in Jaipur, the CJI said former judges act as a dependable resource during institutional stress, much like stepwells that sustain communities in arid regio…
New Delhi, Feb 13 (IANS) Over 4.76 crore cases are pending across various courts in the country, including more than 63.66 lakh cases in High Courts and 92,101 cases in the Supreme Court of India, the Union Ministry of Law and Justice informed the Lok Sabha on Friday. Replying to an unstarred question, Minister of State (Independent Charge) for Law and Justice Arjun Ram Meghwal said that, as per data available on the National Judicial Data Grid (NJDG), a total of 4,76,57,328 cases were pendin…