Govt moves SC to make NCLT judges stick to deadline for resolving cases

The government has sought the Supreme Court’s (SC’s) approval to frame rules for making judges of the National Company Law Tribunal (NCLT) accountable in ensuring corporate insolvency cases are disposed of in time.

In the latest amendments to the Insolvency and Bankruptcy Code (IBC), the government has made it mandatory for all corporate insolvency procedures, including litigation, to be wrapped up in 330 days. 

The Bill, passed in both Houses of Parliament, has put the onus on the NCLT Benches to increase their productivity.

“It is out of despair that the government has taken this action. We had to set a time limit