The Ministry of Corporate Affairs(MCA) has issued notification regarding appointment of Judicial Member and Technical Member in National Company Law Tribunal.
Reetu | Jun 12, 2023 |
MCA appoints Judicial Member and Technical Member in National Company Law Tribunal
The Ministry of Corporate Affairs(MCA) has issued notification regarding appointment of Judicial Member and Technical Member in National Company Law Tribunal.
As per the notification, fourteen individuals have been appointed to serve as Judicial and Technical Members. These appointments have been made under the powers conferred by section 408 of the Companies Act, 2013.
The announcement is a critical step towards enhancing the NCLT’s operations. Individuals appointed as Judicial and Technical Members would be paid Rs. 67000-79000/- (pre revised) [level 15 in the pay matrix (Rs. 182200-224100) as per 7th Central Pay Commission] for a period of five years from the date of their appointment. The list of appointments comprises retired justices, experienced legal practitioners, and technological specialists, indicating that the tribunal has a fair mix of legal and technical knowledge.
The appointment of these members is an important step towards increasing the NCLT‘s effectiveness in handling corporate law disputes. Each of these appointees has a distinct set of talents and knowledge that will be invaluable in improving the Tribunal’s operations.
For Official Notification Download PDF Given Below:
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