Over 21,250 cases pending before NCLT at end of December 2020 – The Economic Times

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/over-21250-cases-pending-before-nclt-at-end-of-december-2020/articleshow/80754041.cmsSynopsis

​​In a written reply to Lok Sabha, Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said that during the lockdown, adequate measures were taken for hearing of cases including urgent matters through video conference in all NCLT benches.

New Delhi: As many as 21,259 cases were pending before the National Company Law Tribunal (NCLT) as of December 31, 2020, and more than 2,270 cases were filed before the tribunal under the insolvency law in the first nine months of this fiscal, according to the government.

In a written reply to Lok Sabha, Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said that during the lockdown, adequate measures were taken for hearing of cases including urgent matters through video conference in all NCLT benches.

To deal with increasing number of cases, she said the government is taking all steps to strengthen the NCLT, in terms of additional space, benches, courts, members and manpower, as per emerging requirement.

“As per data furnished by National Company Law Tribunal (NCLT), 21,259 cases are pending in NCLT and its benches as on 31.12.2020,” the minister said.

In another written reply, Sitharaman said that as per data from the tribunal, 2,278 cases were filed under the Insolvency & Bankruptcy Code, 2016 before the NCLT during April to December 2020 period.

“Out of 2,278 cases filed under Insolvency & Bankruptcy Code, 2016 during the year 2020-21, 176 cases have been disposed by NCLT,” she said.

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