Hot Off The PressNews

As reported by ANI, A Petition has been filed in the Court seeking the appointment of technical members of the National Company Appellate Tribunal (NCLAT).

With regard to the above, Delhi High Court issued a notice to the Centre.

The matter has been listed for 01-05-2020.

Petitioner also mentioned that the challenges to the legality of permitting the appointment of persons without judicial exposure and grounding in law were decided by the Court.


[Source: ANI]

Appointments & TransfersNews

S.O. 4279(E).— In exercise of the powers conferred by Section 410 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints following persons as Judicial and Technical Members in the National Company Law Appellate Tribunal in level-17 in the pay matrix (Rs. 225000/- fixed) with effect from the dates mentioned against each for a period of three years or till the attaining the age of sixty-seven years or until further orders, whichever is the earliest:

  • Justice (Retd.) Venugopal M — Judicial Member
  • Justice (Retd.) Jarat Kumar Jain — Judicial Member
  • Sh. Vijai Pratap Singh — Technical Member
  • Dr. Ashok Kumar Mishra — Technical Member

Ministry of Corporate Affairs

[Notification dt. 27-11-2019]

Cabinet DecisionsLegislation Updates

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the creation of additional posts of three Judicial Members and three Technical Members in the National Company Law Appellate Tribunal (NCLAT).

The posts will be created in Level 17 (Rs 2,25,000/- fixed) plus allowances as admissible.  The total financial implication will be Rs 2,27,82,096 (Rupees two crore twenty-seven lakh eighty-two thousand ninety-six only) per annum.

This will ensure to meet the mandate provided to NCLAT by the Finance Act, 2017, the Companies Act, the IBC, 2016 and the time frame provided for disposal of cases.


[SOURCE: PIB]

Dated: 27-03-2019

Cabinet