Making company law tribunal more effective

NCLT president's optimism has to be supported by action on ground

The formation of the National Company Law Tribunal (NCLT) on June 1, 2016, marked a decade-long attempt to overhaul company law litigation in India. NCLT President M M Kumar struck an optimistic note while speaking at a recent public function, highlighting the new approach of the tribunal. However, considering the large increase in workload, infrastructure and manpower constraints continue to remain the tribunal's Achilles' heel. Kumar said the crux of the changed approach lay in Section 422 of the Companies Act, 2013, which mandates three months for the completion of proceedings, ...