Government of India approves establishment of two new benches of NCLT
The National Company Law Tribunal (NCLT) has been set up under the Companies Act of 2013. It has provided an effective and time bound adjudication mechanism to deal with matters related to the Companies Act of 2013, the Insolvency and Bankruptcy Code (IBC) of 2016 and the LLP Act of 2008. It is in news recently because the Government of India (GoI) has recently approved establishment of two new benches of NCLT, one at Amaravati in Andhra Pradesh and the other at Indore in Madhya Pradesh. This step has been taken keeping in view the increasing case load, especially under the Insolvency & Bankruptcy Code 2016. The jurisdiction of the Bench at Amaravati will be the state of Andhra Pradesh and that of Indore will be the state of Madhya Pradesh. At present Andhra Pradesh comes under the Jurisdiction of NCLT Bench at Hyderabad and Madhya Pradesh comes under the jurisdiction of NCLT Bench, Ahmedabad. It is expected that creation of new benches will enable faster disposal of cases. Presently, 14 numbers of NCLT Benches have been established, including the Principal Bench in New Delhi.
Topics: Amaravati , Andhra Pradesh , India , Indian company law , Indore , Insolvency and Bankruptcy Code , Law , Madhya Pradesh , Modi administration , National Company Law Tribunal , States and union territories of India