After the Supreme Court summoned two members of the National Company Law Appellate Tribunal (NCLAT) in October for contempt, legal experts said the quality of members at the NCLAT and also the National Company Law Tribunal (NCLT) has been a factor in the quality of orders and the slow resolution of cases under the Insolvency and Bankruptcy Code (IBC).
Experts also suggested that bureaucrats appointed as technical members must undergo judicial training before being appointed to NCLT.
"The Supreme Court questioned the practice of appointing bureaucrats as members of quasi-judicial tribunals. It highlighted the need to keep the tribunal immune from executive interference by stopping the appointment of bureaucrats to such bodies. It is always felt that the NCLT is a weak link in the IBC due to the lack of manpower, infrastructure and domain expertise," said Nitin Potdar, M&A Partner at J Sagar Associates.
Denne historien er fra December 26, 2023-utgaven av Mint Mumbai.
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Denne historien er fra December 26, 2023-utgaven av Mint Mumbai.
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