Strengthening the capacity of the National Company Law Tribunal (NCLT) and making insolvency resolution faster and more predictable emerged as key concerns at the “IBC Pulse 2.0” conference organised by the PHD Chamber of Commerce and Industry (PHDCCI) in Chandigarh on Sunday. NCLT president and former Punjab and Haryana high court judge Anupinder Singh Grewal (retd) said the tribunal’s role went beyond adjudicating corporate disputes, describing its work as a service to the nation.
More than 200 delegates from the judiciary, legal profession, insolvency practice and industry participated in the conference to discuss the implementation of the Insolvency and Bankruptcy Code (IBC), 2016, and the reforms required to strengthen the insolvency resolution framework.
Addressing the gathering as chief guest, justice Grewal said an efficient insolvency mechanism was critical for investor confidence, better utilisation of economic resources and revival of viable businesses. He described the IBC as one of the pillars that had made India’s insolvency resolution system more structured, transparent and accountable.
Justice MM Kumar, founder president of the NCLT and former chief justice of the Jammu and Kashmir high court, traced the evolution of the tribunal and stressed the need for institutions to keep pace with the requirements of a growing economy.
Former NCLT judicial member Harnam Singh Thakur called for more NCLT benches and members, along with better infrastructure, to reduce pendency and speed up resolution. GP Madaan, chair of PHDCCI’s NCLT and IBC Committee, also stressed the need for a stronger and better-resourced tribunal amid its rising caseload.
{{/usCountry}}Former NCLT judicial member Harnam Singh Thakur called for more NCLT benches and members, along with better infrastructure, to reduce pendency and speed up resolution. GP Madaan, chair of PHDCCI’s NCLT and IBC Committee, also stressed the need for a stronger and better-resourced tribunal amid its rising caseload.
{{/usCountry}}PSN Prasad, former NCLT judicial member, called for structural and capacity-building measures, while PHDCCI deputy secretary general Jatinder Singh said the conference focused on judicial developments, institutional strengthening and practical challenges in implementing the IBC.
The sessions also examined procedural bottlenecks and reforms needed to make insolvency resolution more efficient, predictable and time-bound.