The National Company Law Tribunal has notified the transfer of 8 members with immediate effect. Explicitly, the action was taken under Rule 15 A, sub-rule (4) of NCLT (Salary, Allowances and other Terms and Conditions of Service of President and other Members) Rules, 2015 notified by Central Government, Ministry of Corporate Affairs.
- BP Mohan, Member (Judicial) – NCLT Mumbai to NCLT Amravati
- Mohammed Ajmal, Member (Judicial) – NCLT Amravati to NCLT Mumbai
- Sucharita R, Member (Judicial) – NCLT Cuttack to NCLT Chennai
- Narender Kumar Bhola, Member (Technical)- NCLT Hyderabad to NCLT New Delhi
- Veera Brahma Rao Arekapudi, Member (Technical) – NCLT Kochi to NCLT Hyderabad
- Virendra Kumar Gupta, Member (Technical) – NCLT Kolkata to NCLT Ahmedabad
- Prasanta Kumar Mohanty, Member (Technical) – NCLT Ahmedabad to NCLT Guwahati
- Venkata Subha Rao Hari, Member (Judicial) – NCLT Guwahati to NCLT Mumbai.
The notification states that the honourable members should move to their new stations of posting. However, only after the lockdown restrictions stand lifted by the Central Government and the respective State Governments.
About the National Company Law Tribunal
The National Company Law Tribunal, a quasi-judicial body in India, adjudicates issues relating to Indian companies. While the tribunal was established under the Companies Act 2013, it was constituted on 1 June 2016 by the government of India. As a matter of fact, V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies recommended the constitution of the Tribunal.
Being that, all proceedings under the Companies Act, including proceedings relating to arbitration, compromise, arrangements, reconstructions; and the winding up of companies shall be disposed of by the Tribunal. Moreover, the National Company Law Tribunal serves as the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankruptcy Code, 2016. Meanwhile, a retired Judicial member or a serving High Court Judge chairs the bench. Additionally, a technical member from the Indian Corporate Law Service, ICLS Cadre also marks his/her present.