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Lawyers laud budget announcement on additional NCLT, DRT benches to reduce pendency

In order to unclog NCLT, which has been facing criticism over delays, the government plans to add new benches to exclusively hear cases filed under the Companies Act, 2013.
Essar Global to use oil co stake sale money to pare debt: Srcs

Meanwhile, banks that have lent to Essar Steel said they are watching the performance of the company and if the pace of repayment is slack then they would insist on stake sale rather than restructuring of loans.
Finmin may release pending Rs 5K cr for FY16 PSU bank recap soon

The government is also ready with the draft DRT (Debts Recovery Tribunal) Bill amendments, which will be tabled in the Parliament post Cabinet nod
Balance Dues: Secured Creditors Get A Fresh Lease Of Life!

By: Krishnayan Sen, VERUS Advocates

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