It has been identified that IBC and cases at NCLT are rising with the growing conditions of the economy. The importance as well as the burden on NCLT is on hike. A recommendation of separate bench of the National Company Law Appellate Tribunal will be set up at Chennai. It is aimed that the new NCLAT bench will hear appeals against the orders of the Benches of the National Company Law Tribunal (NCLT) having its jurisdiction over Tamil Nadu, Karnataka, Kerela, Andhra Pradesh, Telanagana, Lakshadweep and Puducherry. It will help to unclog pending cases at NCLAT, Delhi, which will be functioning as the Principal Bench and will continue to hear appeals other than those that come under the jurisdiction of the Chennai Bench. It will also help in doing business for the litigants. This will reduce the backlog on NCLT, Delhi.
All the pending cases which are at NCLAT, Delhi Bench having their jurisdictions to South India will be transferring now to the Chennai Bench. The Central Government may consider to establish similar benches of NCLAT in the Western and Eastern parts of India depending on the benefits and actual purpose being achieved from the Chennai Bench.
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