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Why should NCLT recover the losses and punish the culprits?

As the National Company Law Tribunal (NCLT) labours to resolve the NPA cases that are queued up before it, the humongous losses, called haircut in the banking jargon are emerging on the horizon with certainty. In the first twelve cases referred to the NCLT for NPA resolution, the losses to the banks are to the tune of a shocking Rs.2.65 lac crores. And this is despite the best of efforts being put in by the NCLT to get the best offers for the companies lined up before it. The question is why should NCLT recover the losses and punish the culprits?

 

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