With general elections around the corner, the only hope to clean-up the bankruptcy process, which has been cynically gamed over the past few years, is through occasional judicial orders.
Petitions filed in SC seeking extension of NCLT judges
SECTIONS
Share
Synopsis
The dedicated insolvency courts are already witnessing an acute shortage of judges. The Supreme Court Monday listed the matter for hearing on May 31 as the apex court accorded two weeks to the Centre to complete the process of selection of judges to NC
Getty Images
Half a dozen members will be completing their tenure of five years in May and June this year.
At least three petitions have been filed at the Supreme Court and the Madras High Court seeking extensions for the National Company Law Tribunal judges retiring in the next few weeks. The proposed extensions are aimed at preventing bankruptcy cases from piling up.