When the National Company Law Tribunal (NCLT) was established in 2016 as the unified adjudicatory forum for company law, it bore the promise of timely, specialised justice in a space long weighed down by fragmented forums and procedural drift. That same year, the Insolvency and Bankruptcy Code (IBC) positioned the NCLT and its appellate counterpart, the NCLAT, at the heart of India’s corporate legal architecture.
Nearly a decade later, while the NCLT has demonstrably influenced debtor behaviour and brought overdue discipline to corporate defaults, it now needs its own reset — a version 2.0 that addresses design flaws, infrastructural gaps, and systemic inertia. This is not merely about caseload or litigant conduct, but also…