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Showing posts from June, 2015
   NCLT IS A REALITY NOW Is tribunalization effective way to reduce burden of the courts and provide speedy remedies. Income Tax Appellate Tribunal (ITAT), State Administrative Tribunal (SAT), Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Debt Recovery Tribunal (DRT), Central Administrative Tribunal (CAT), Intellectual Property Rights Tribunal, Electricity Tribunal and even a Railway Claims Tribunal—we have enough already. However, it’s time for one more. Eight years after they were first proposed, National Company Law Tribunals (NCLTs) are about to become reality, which is thanks to last week’s Supreme Court ruling. Will the creation of NCLTs take a load off corporate India's back? Will they work? OVER the last 25 years, Parliament has systematically taken away important judicial functions of the High Courts and the civil courts and vested them in quasi-judicial tribunals. However, there is a fear that in the process the stature of our High Courts has been red