In a significant update from the Ministry of Corporate Affairs, a fresh roster of judicial and technical members has been appointed to the National Company Law Tribunal (NCLT), effective immediately. This move is part of a routine administrative reshuffle aimed at enhancing the efficacy of legal proceedings related to corporate affairs.
The newly appointed members will assume their positions in accordance with the powers vested by section 408 of the Companies Act, 2013. They are set to serve for a term of five years or until they reach the age of 65, whichever occurs first.
Justice Jyotsna Sharma and Mr. Sunil Kumar Aggarwal are among the notable appointees taking on the role of Judicial Members. Their extensive legal backgrounds are expected to contribute significantly to the tribunal’s function of resolving complex corporate disputes.
On the technical front, Ms. Reena Sinha Puri and Ms. Kavita Bhatnagar will be stepping into their roles as Technical Members. Their expertise in corporate law is anticipated to bring a nuanced approach to the tribunal’s technical reviews and decision-making processes.
These appointments come at a crucial time when the NCLT is handling a surge in corporate insolvency cases, reflecting the ongoing adjustments in the business sector amid economic reforms.
The appointments aim to fortify the NCLT’s capabilities in dealing with intricate legal and technical matters, thereby streamlining proceedings and reducing the backlog of cases.
