Business Standard

Centre considers opening third court for NCLT's Kolkata bench

IANS  |  Kolkata 

As part of expansion of benches under the National Company Law Tribunals (NCLTs) in different cities, the Centre is considering to open a third court at the tribunal's Kolkata bench, an official said on Saturday.

Under the corporate insolvency resolution process (CIRP), the Kolkata bench has approved 21 resolution plans involving Rs 21,596 crore, till January 31, 2019, the official said.

"We are getting enquiries from the headquarters whether there is space to open the third bench. We are having a meeting for space in the existing building (that houses the tribunal in the city). Currently, there are two tenants - NCLT and SIB (Special Intelligence Bureau)- in the building.

"We are negotiating if we could get the space (in the existing building). Otherwise, we have to look for an alternative," the bench's Deputy Registrar Chattopadhyay said at an interactive session at Merchants' Chamber of Commerce and Industry.

He said the proposed third bench was expected to be operational within the current calendar year.

There are 1,319 cases, filed before the city bench under the Insolvency and Bankruptcy Code till January end, out of which 432 cases were disposed off, while 887 were pending, he said.

The Kolkata bench, had till January end, had pronounced as many as 46 orders for liquidation, he added.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, March 02 2019. 19:58 IST
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