MCA extends term of Justice Bansi Lal Bhat as acting chairperson NCLAT by three months

Economy


The ministry of corporate affairs (MCA) extended the term of Justice Bansi Lal Bhat as acting chairperson of the National Company Law Appellate Tribunal (NCLAT) by three months, in a notification on Monday.

The extension was applicable from June 15, the order said, or until a regular chairperson was appointed.

He took over the appellate tribunal as acting chairperson on March 15, after Justice SJ Mukhopadhaya completed his term in the office.

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Bhat was first appointed as a judicial member of the NCLAT in October 2017.

Currently, the NCLAT has suspended all court work including virtual hearings and filings till July 10, as two staffers tested positive for Covid-19, according to notice.

The first positive case was found on June 26 following which all operations were suspended to enable home quarantine for all staffers and members, the notice said.

On March 21, the appellate tribunal had shut its premises, including filing counters, till April 1 on account of the pandemic.

While it disallowed the filing of fresh cases, it continued hearing urgent matters through virtual hearings.

Prior to this, the NCLAT said it would only hear matters under the Insolvency and Bankruptcy Code (IBC).

However, the government suspended sections 7, 9 and 10 of the IBC relating to initiation of fresh insolvency proceedings from March 25 for six months.



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