NEW DELHI: A parliamentary panel has suggested establishing dedicated benches or verticals for insolvency cases at the National Company Law Tribunal (NCLT) to expedite disposal of such matters as well as ensure that the tribunal gives equal attention to cases under the Companies Act.
Apart from the principal bench and the New Delhi bench, NCLT has benches in Allahabad, Ahmedabad, Bengaluru, Chandigarh, Chennai, Cuttack, Hyderabad, Indore, Kolkata, Kochi, and Mumbai.
The recommendations are part of a report prepared by the Department-Related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice.
The report on ‘Review of Functioning of Tribunal System in the Country’ was tabled in Parliament earlier this month.
The…