Whalesbook
The Supreme Court has issued strong criticism against the National Company Law Tribunal (NCLT) and its appellate body (NCLAT) for operational and administrative inefficiencies. The apex court highlighted the tribunal's dual mandate, which has led to a functional skew favoring the high volume of Insolvency and Bankruptcy Code (IBC) cases over company law matters, causing significant delays. Recommendations include urgent filling of vacancies and establishing dedicated IBC benches.