GOVERNMENT TAKING CONCRETE STEPS TO INCREASE THE STRENGTH OF NCLT, NCLAT
he government is taking all steps to strengthen the National Company Law Tribunal (NCLT) and its appellate tribunal in terms of benches
The government of India is taking concrete steps to increase the strength of NCLT, NCLAT in order to reduce the heavy work load at some of the benches; Union Minister of India Sh. Anurag Thakur said this on Monday.
“Considering the heavy case load at some existing benches, additional members have been appointed and additional courts operationalised from time to time,” the Minister of State for Corporate Affairs said in a written reply to the Lok Sabha.
The government of India will be adding an additional bench of the National Company Law Appellate Tribunal (NCLAT) at Chennai following a Supreme Court judgement, he added.
Further as per him the government has recently appointed 28 more members in NCLT and 4 more members in NCLAT.
Looking at the speed at which the cases are being filed at the NCLT, NCLAT under Insolvency & Bankruptcy Code, 2016, this step by the government to strengthen the benches of NCLT & NCLAT seems to be in the right direction as it will ultimately reduce the work load from existing benches and work can be carried out more efficiently.
