Room for improvement in tribunal work, says Bhatia.

More benches and members would be joining the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT), Amardeep Singh Bhatia, joint secretary in Ministry of Corporate Affairs, has told a conference by ASSOCHAM.

“As the load is increasing, the responsibilities of NCLT and NCLAT have been increased, the capacity also is proposed to be increased,” said Bhatia on 15 July 2017.

“Increase in capacity is a work in progress and that will happen over the course of next couple of months and you will have more benches, more members joining in,” he disclosed.

He said that creation of national company law tribunals is the foremost thing that has happened as the cases have shifted from courts.

“That is a huge change as it provides the opportunity to all the professionals, it has widened the scope for chartered accountants and company secretaries to practice before the tribunal.”

Bhatia also said that the tribunals have also been entrusted with the responsibility of ensuring that the processes are completed in an efficient manner.

“We have had an experience of almost a year of how the tribunals have been functioning, but there is still a lot of scope for improvement,” he conceded. fii-news.com