Putting an end to the depleting strength of National Company Law Tribunal (NCLT), 27 new members on Thursday took oath as judges of the tribunal.
Chief Justice (retired) MM Kumar administered the oath of the office and ecrecy at the ceremony. Earlier, the judges simply used to sign the oath and declaration in the chamber of the NCLT president.
"According to the Secretary NCLT this departure is impressive to instil a feeling of sanctity and sacredness in the mind of all stakeholders including the members and to the whole process with which NCLT has been entrusted by law," said an official statement.
NCLT, which has emerged as "the most trustworthy efficient and fast improving tribunal", had been working from 13 locations across the country with barely 25 members.
"The newly inducted members would undergo induction colloquium and the schedule of various sessions is to be finalised by the President. The posting and transfers have been ordered by the President," added the statement.
A large number of advocated, resolution professionals, government officers from Ministry of Corporate Affairs and retired judges also attended the swearing-in ceremony.
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