Performance of Company Law Tribunals in India

Aditi Nayak () and Prasanth V. Regy ()
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Aditi Nayak: Aakriti Shantiniketan
Prasanth V. Regy: Aakriti Shantiniketan

A chapter in Insolvency and Bankruptcy Reforms in India, 2022, pp 59-91 from Springer

Abstract: Abstract The National Companies Law Tribunal (NCLT) was set up for the speedy disposal of company matters, including matters of insolvency and bankruptcy under the IBC. This chapter studies the performance of the NCLT. The analysis reveals that delays in the NCLT are high and increasing. The reasons for the poor performance tend to be wasted hearings, insufficient judicial staff, and a culture that is permissive of delays. We suggest steps to reduce delay, including avoiding or penalising wasteful hearings, increasing judicial strength, and augmenting the judicial members through high-quality support staff as well as technology. An important part of the solution might lie in a deeper examination of the prevailing judicial culture.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-16-0854-4_4

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DOI: 10.1007/978-981-16-0854-4_4

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