ROLE OF NCLT IN IMPROVING CORPORATE GOVERNANCE IN INDIA: A DESCRIPTIVE ANALYSIS

On the event of India Today conclave 2023, the Honble Prime Minister of India on 18th March 2023, recognized the contribution of National Company Law Tribunal (NCLT) in strengthening the corporate governance practices in India. It imposes a curiosity in any research oriented mind that how the principles embodying the NCLT becoming one of the contributing factor for good corporate governance for the India Inc. In the merger and arrangement cases the NCLT has efficiency of the 93 %. In the oppression, mismanagement and other cases the efficiency counted at 80 %. Similarly in the insolvency dispute cases the efficiency is counted at 86 % in totality and the total amount involved in the settlement was more than ₹ 10,49,264 crore. Keeping in view the size of the corporate world operating in and through India, there need to be strengthening of the NCLT window in terms of resources and providing other jurisdictions to adjudicate the matters. The independence and machinery of the NCLT should be safeguarded and preserved.