The government has sought applications for filling up as many as 36 posts of judicial and technical members at the National Company Law Tribunal (NCLT). In two separate circulars dated August 23, the Ministry of Corporate Affairs said it has been decided to fill up 14 and 22 vacancies of judicial and technical members, respectively, in the tribunal.
The NCLT has been constituted under the Companies Act, which is being implemented by the corporate affairs ministry. The last date for filling the online applications for the vacancies is September 14.
In April and May, the ministry had sought applications for 4 and 12 positions of judicial and technical members, respectively, in the tribunal. The new vacancies are in place of the earlier ones. The circulars also said that those who have already applied earlier “are not required to apply again as their existing application shall be considered for the purpose”.
The tribunal has 11 benches in different parts of the country. “The selected candidates will be required to serve at any of the already constituted NCLT benches or benches to be constituted in future in different parts of the country in a phased manner with all India transfer liability as per availability of the vacancies/ exigencies of work,” they added.
A large number of cases related to insolvency are coming up before the NCLT. Under the Insolvency and Bankruptcy Code (IBC), proceedings can commence only after approval of the NCLT. The final resolution plan should also get the tribunal’s nod.
For appointment as a judicial member, the applicant has to be a judge of a High Court or a district judge for at least five years or been an advocate of a court for not less than ten years. With regard to technical member, the person has to be, for at least 15 years, a member of the Indian Corporate Law Service or Indian Legal Service and been holding the rank of secretary or additional secretary to the Government of India or has been in practice as a chartered accountant or a cost accountant for not less than 15 years, among others.
For the appointment to either of the positions, the applicant should be 50 years of age and the selected candidates will hold the office for a period of five years with the option of being reappointed for another term of similar duration. “The term of appointment is, however, subject to the maximum age limit of sixty-five years,” the circulars said.