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        Corp. Laws, SEBI & IBC

        Cabinet approves creation of additional posts of three Judicial Members and three Technical Members in the National Company Law Appellate Tribunal

        March 27, 2019

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        The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved 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 ₹ 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.

        Creation of tribunal posts approved to strengthen appellate tribunal capacity and meet statutory adjudication timelines. Cabinet approves creation of three additional Judicial Members and three additional Technical Members posts in the National Company Law Appellate Tribunal, set at a specified remuneration level with associated allowances and a recurring financial implication, to strengthen tribunal composition and enable compliance with the statutory corporate and insolvency framework and prescribed case disposal timelines.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Creation of tribunal posts approved to strengthen appellate tribunal capacity and meet statutory adjudication timelines.

                                Cabinet approves creation of three additional Judicial Members and three additional Technical Members posts in the National Company Law Appellate Tribunal, set at a specified remuneration level with associated allowances and a recurring financial implication, to strengthen tribunal composition and enable compliance with the statutory corporate and insolvency framework and prescribed case disposal timelines.


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