Andhra Pradesh and Madhya Pradesh get new NCLT benches
The Government has approved establishment of two new benches of National Company Law Tribunal (NCLT), one at Amaravati in Andhra Pradesh and the other at Indore in Madhya Pradesh. This step has been taken keeping in view the increasing case load, especially under the Insolvency & Bankruptcy Code 2016.
The jurisdiction of the Bench at Amaravati will be the state of Andhra Pradesh and that of Indore will be the state of Madhya Pradesh. At present Andhra Pradesh comes under the Jurisdiction of NCLT Bench at Hyderabad and Madhya Pradesh comes under the jurisdiction of NCLT Bench, Ahmedabad. It is expected that creation of new benches will enable faster disposal of cases.
The NCLT, which has been set up under the Companies Act, 2013, has provided an effective and time bound adjudication mechanism to deal with matters related to the Companies Act, 2013, the Insolvency and Bankruptcy Code (IBC), 2016 and the LLP Act, 2008. The Act provides for appointment of a President and such number of Members as the Government may deem necessary. As on date there are 17 Judicial Members and 10 Technical Members. Presently, 14 numbers of NCLT Benches have been established, including the Principal Bench in New Delhi, and three recently set up benches at Jaipur, Kochi and Cuttack.
MINISTRY OF CORPORATE AFFAIRS
New Delhi, the 8th March, 2019
S.O. 1216(E).—In exercise of the powers conferred by sub-section (1) of section 419 of the Companies Act, 2013 (18 of 2013), the Central Government hereby constitutes the National Company Law Tribunal, Indore Bench at Indore and Amaravati Bench at Amaravati, and for the said purpose hereby makes the following further amendments in the notification of the Government of India, Ministry of Corporate Affairs number S.O. 1935 (E), dated the 1st June, 2016, namely:—
2. In the said notification, in the Table, –
(i) against serial number 2, in column number (4), the entries “(2) State of Madhya Pradesh” shall be omitted;
(ii) against serial number 8, in column number (4), the entries “(1) State of Andhra Pradesh” shall be omitted;
(iii) after serial number 13 and the entries relating thereto, the following shall be inserted, namely:-
|National Company Law Tribunal, Indore Bench||Indore||(1) State of Madhya Pradesh|
|National Company Law Tribunal, Amravati Bench||Amaravati||(2) State of Andhra Pradesh.”|
3. This notification shall come into force on the date of its publication.
[F.No. A-4501 1/44/2018-Ad.IV)]
ANURAG AGARWAL, Jt. Secy
Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1935(E), dated the 1st day of June, 2016 and subsequently amended vide number S.O. 345(E), dated the 3rd February, 2017, number S.O. 3145 (E), dated the 28th June, 2018, number S.O. 3430 (E), dated the 12th July 2018 and number S.O. 3683 (E), dated the 27th July 2018.