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2 clusters · 7 sources · 8 days · First seen · Last updated

Indian judicial reforms for insolvency tribunals

Overview

The Supreme Court of India has called for significant reforms to the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). A bench led by Chief Justice of India Surya Kant emphasized the need for improved infrastructure, staffing, and administrative autonomy. The Court specifically criticized the use of contractual appointments for staff and suggested that recruitment should be handled through established institutions like the Union Public Service Commission to ensure institutional accountability.

To prevent undue influence from the Union Ministry of Corporate Affairs, the Court stressed that tribunal chairpersons must maintain autonomy over administrative matters. Following these observations, former Supreme Court judge Justice Rajesh Bindal was appointed as the Chairperson of the NCLAT, succeeding Justice Ashok Bhushan.

Entities

Surya Kant · Supreme Court of India · National Company Law Appellate Tribunal · Ministry of Corporate Affairs · Rajesh Bindal

Timeline

  1. [POLITICS] 3 sources
    Justice Rajesh Bindal appointed NCLAT Chairperson

    Former Supreme Court judge Rajesh Bindal has been appointed Chairperson of the NCLAT, amid Supreme Court concerns regarding the administrative autonomy of insolvency tribunals.

  2. [POLITICS] 4 sources
    Supreme Court demands infrastructure and staffing reforms for NCLT and NCLAT

    The Indian Supreme Court has ordered the NCLT and NCLAT to submit proposals for improved infrastructure and staffing, while criticizing contractual appointments and calling for greater administrative autonomy.

Sources

deccanchronicle.com · indtoday.com · lawchakra.in · liveLaw.in · pragativadi.com · taxguru.in · timesnownews.com