19,969 Pending Cases at NCLT: Standing Committee Flags Procedural Delays and Manpower Shortages

The Standing Committee on Finance has highlighted procedural delays and a shortage of manpower at the National Company Law Tribunal (NCLT). With 19,969 pending cases, the committee stressed the need for greater efficiency in handling insolvency and corporate restructuring matters. It recommended reforms to address the backlog and improve the speed and quality of decision-making at NCLT. The committee's report underlines the growing challenges faced by the tribunal in dealing with increasing corporate insolvency cases and the necessity for timely legal processes.