All steps being taken for strengthening NCLT: Centre
Premium- Rao Inderjit Singh said that as on 18 July, there are 30 vacancies of members and 270 vacancies of officers and staff in NCLT benches
NEW DELHI : The government is taking all steps needed to fill the vacancies in the National Company Law Tribunal (NCLT) which handles cases under the Companies Act and bankruptcy code, Minister of state for corporate affairs Rao Inderjit Singh informed the Parliament on Monday.
The minister said that as on 18 July, there are 30 vacancies of members and 270 vacancies of officers and staff in NCLT benches. There are 15 benches of National Company Law Tribunal (NCLT) across the country in addition to the Principal Bench at New Delhi.
The assurance about filling the vacancies come at a time many have expressed concerns about the manpower shortage coming in the way of quick disposal of cases.
As per information provided by NCLT, 20,963 cases are pending with NCLT benches at the end of May.
“Government is taking all steps to strengthen the NCLT, in order to reduce the pendency of cases. Five new Benches of NCLT were announced during years 2018 and 2019 at Jaipur, Cuttack, Kochi, Indore and Amravati. Vacant posts of Members in NCLT are being filled up regularly," the minister said.
The government has appointed 20 new members in NCLT in 2021, he said. Besides capacity building of members, an e-court project has also implemented by National Informatics Centre (NIC) for all the benches of NCLT, the minister said.
Manpower shortage in NCLT is an issue which could have economic consequences given that the tribunal clears resolution of bankruptcy cases and delays could affect the outcomes. The government has been taking steps to improve the outcome of bankruptcy resolution so that sick businesses could quickly be turned around and the others could be liquidated and creditors and other stakeholders get maximum value for their investments.
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