Govt mulls substantially expanding NCLAT strength to speed up insolvency, M&A appeals
The Indian government is considering an important proposal to increase the number of members in the National Company Law Appellate Tribunal (NCLAT) from 12 to 20, including the chairman. This move aims to speed up the resolution of appeals against adjudicating authorities in various cases, including insolvency, mergers and acquisitions, and antitrust matters. The expansion of the NCLAT is seen as crucial in light of the country's rapidly growing economy, which underscores the need for a more robust dispute resolution system.
Source: indiatimes.com