National Company Law Tribunal - Latest News Update, Information, Photos & Videos on National Company Law Tribunal at Lokmat Times

The Supreme Court on Wednesday asked the Central government to apprise it about the development of the meeting to be held regarding the tenure of 23 members of the National Company Law Tribunal (NCLT) and posted the case for hearing on June 15.A vacation bench of Justices DY Chandrachud and Bela M Trivedi was informed by Solicitor General Tushar Mehta, appearing for the Centre, that a committee chaired by the Chief Justice of India NV Ramana had held a meeting on April 20 in which the question regarding the tenure of 23 members of NCLT has been deliberated upon.The committee also comprises Supreme Court judge Justice Surya Kant and the Secretary of the Ministry of Corporate Affairs. The next meeting is likely to be held within a week or 10 days, SG further told the bench further.Solicitor General requested the top court to hear the matter on June 15 and also said that the next retirement of one of the NCLT members is on June 20.The top court was hearing a plea filed by the NCLT Bar Association challenging the notification of the Ministry of Corporate Affairs fixing the tenure of the members of NCLT as three years. The plea sought direction to modify the tenure to five years.In its order, the bench noted, "The Solicitor General has submitted that the committee chaired by the Chief Justice of India and consisting of Justice Surya Kant and the Secretary, Ministry of Corporate Affairs held its meeting on April 20, 2022, where the question regarding the tenure of the 23 members of the National Company Law Tribunal of the 2019 batch has been deliberated upon.""Since the term of one of the members of that batch is to come to an end on June 20, 2022, the Solicitor General has requested the court to place these proceedings on June 15, 2022, since the committee is seized of the issue," the bench said.The bench further stated in its order, "List the proceedings on June 15, 2022. We request the Solicitor General to apprise the court of the developments which have taken place in the meantime."Solicitor General told the apex court that the committee had considered all aspects of the matter, including verification reports of character and antecedents, which are considered to be one of the important factors for the assessment of the suitability of the 23 members for extension of their term of office keeping in view the sensitive nature of their duties.The apex court also noted the submissions of senior advocate Mnder Singh, who appeared for the petitioner and submitted that term of all the members of the 2019 batch would come to an end on July 3, 2022, though the term should legitimately be for a period of five years.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

National Company Law TribunalFOLLOW

National company law tribunal, Latest News

The National Company Law Tribunal on Friday ordered the transfer of ownership of Jet Airways to Jalan-Kalrock Consortium in ... ...

New Delhi, Jan 13 In a relief to the Jalan Kalrock consortium (JKC), the National Company Law Tribunal ... ...

New Delhi, Nov 17 The National Company Law Tribunal has ordered the commencement of corporate insolvency resolution process ... ...

Noida, Oct 19 The increasing insolvency proceedings against big builders at the National Company Law Tribunal (NCLT) have ... ...

Noida, Oct 19 People invest their lifetime savings - some in lakhs and some in crores - to ... ...

New Delhi, Sep 2 The Holiday Inn Express hotel, situated at Terminal 3 of the national capital's Indira ... ...

New Delhi, July 31 The Central government has moved the National Company Law Tribunal seeking civil and criminal ... ...

The Supreme Court on Wednesday asked the Central government to apprise it about the development of the meeting to be held regarding the tenure of 23 members of the National Company Law Tribunal (NCLT) and posted the case for hearing on June 15. ...