New Delhi: The Supreme Court on Thursday came down heavily on the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) benches regarding the “political”
appointments to the bodies.
In its judgment that ordered the liquidation of debt-ridden Jet Airways, the top court also flagged delays and inefficiencies crippling India’s
insolvency process.
“The appointment of new members must coincide with the date of retirement of the sitting members to avoid such operational inefficiencies. Persons with high ideals & impeccable integrity should be appointed as members in the NCLT as well as NCLAT. There should not be any political appointment,” it stated.
A three-judge bench of Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Mishra took strong exception to the two bodies’ “growing tendency” to disregard its orders.