Dedicated NCLT Benches for Insolvency Cases
In view of a huge backlog of cases at the NCLT, the government will start identifying benches to specifically deal with insolvency and Companies Act-related matters, an official in the corporate affairs ministry said on Saturday.
In this regard, the ministry will start with the NCLT benches of Delhi and Mumbai, where more than half of the country’s incorporated firms are registered, K V R Murty, joint secretary in the Ministry of Corporate Affairs, said.
Murty further said that the government is increasing the bench strengths of the tribunals for faster disposal of matters. The Ministry of Corporate Affairs “will begin identifying the benches initially in Delhi and Mumbai where more than half of the incorporated companies in India are registered”.