SC refuses to extend tenures of NCLT members appointed for less than 5 years

National Company Law Tribunal Bar Association Vs Union of India  (Supreme Court) The petitioner contends that the notification S.O. 3412 (E) dated 20 September 2019 issued by the Ministry of Corporate Affairs appointing 28 candidates as Members of the National Company Law Tribunal for a tenure of three years is contrary to the provisions of Section 413 of the Companies Act 2013. While the Notification dated 20 September 2019 prescribing a three year term was not in consonance with Section 413 of the Companies’ Act 2013, we note that: (i) the Members appointed under the notification failed ...