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The Centre has appointed three Judicial and two technical members in the National Company Law Appellate Tribunal (NCLAT).
Their appointment will be valid for four years from the date of assumption of charge or till attaining the age of sixty seven years, whichever is earlier, according to an executive order issued by Corporate Affairs (MCA) on July 27.
The three Judicial members are Justice Rakesh Kumar Jain (retired judge of Punjab and Haryana High Court); Justice Rakesh Kumar (retired judge of Patna High Court) and Justice M Satyanarayana Murthy (judge of Andhra Pradesh High Court).
While Justice (Retd) Rakesh Kumar Jain and Justice (retd) Rakesh Kumar assumed charge on May 17, Justice (retd) Satyanarayana Murthy assumed charge on June 16.
Besides the three Judicial members, the MCA also appointed two technical members - Barun Mitra (retired secretary at Department of Justice) and Naresh Salecha (Member Finance Railway Board). Both these technical members assumed charge on May 17.
All appeals on orders passed by the National Company Law Tribunal (NCLT) go to NCLAT.
The Appointments Committee of the Cabinet (ACC) had in mid May this year approved the names of two retired High Court judges and a sitting High Court judge as three Judicial members of NCLAT. It had also approved the appointment of two technical members for NCLAT.
Pending cases
The number of pending cases before the various Benches of NCLT stood at 20,963 as of end May, the Lok Sabha was informed on Monday.
Rao Inderjit Singh, Minister of State for Corporate Affairs, had said in a written reply that the government is taking all steps to strengthen the NCLT to reduce the pendency of cases.
It maybe recalled that NCLT is now the main adjudicating authority for the Insolvency and Bankruptcy cases.
Singh had said there are, as on July 18, as many as 30 vacancies of Members and 270 vacancies of officers and staff in NCLT Benches.
The Centre had in recent years been taking measures to address the vacancy issues in NCLT and other Tribunals. The Centre had in August last year enacted the Tribunal Reforms Act 2021.
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