NCLT Mumbai moves to new, larger premises1 min read . Updated: 31 Jul 2019, 06:04 PM IST
- The Mumbai bench caters to majority of cases filed under IBC throughout the country
- The number of court rooms has been doubled to six at the new address
Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) now has a new and swanky address — MTNL Building, Cuffe Parade. In addition, the number of court rooms has been doubled to six.
The NCLT is a specialised institution for corporate justice to create a regime of time-bound resolution of corporate disputes and consolidation of the existing mechanisms for revival of sick companies, the bench said in a release. The NCLT was notified on 1 June, 2016 and the Mumbai bench started functioning from 4 July, 2016. From December 2016, with the notification of Insolvency and Bankruptcy Code, NCLT has also served as the platform for prompt implementation of the insolvency code. With the initiation of IBC, several cases were transferred from high court and the filing of new cases started increasing exponentially.
The Mumbai bench caters to majority of cases filed under IBC throughout the country.
For improving physical infrastructure, the NCLT has shifted to its new bigger and improved premises from the Flora Fountain address. The relocated premises would have six courtrooms and twice the number of existing members, separate waiting area and Bar room for professionals, bigger court rooms, dedicated separate floor for Registry office and a canteen.
Apart from the existing five members, five new members have been appointed and joined, the release said. On 20 June, the Ministry of Corporate Affairs (MCA) appointed 30 new judges to the various benches of the NCLT.