Corporate

Kochi bench of National Company Law Tribunal to open soon

The National Company Law Tribunal (NCLT) will soon open its bench in Kochi which will help the businesses and the people in Kerala to get speedy redressal of grievances such as failure to pay the dues from companies. Since the opening of the NCLT benches on December 1, 2016, only eight applications have been filed from Kerala at the Chennai branch, which has jurisdiction over the state. The Kochi bench will be located at the Ministry of Corporate Affairs building at Kakkanad. Anil Goel, said more than 8,000 applications have been filed before NCLT benches and more than 1,200 orders for the commencement of insolvency process have been started so far. “Only eight cases were filed from Kerala at the NCLT Chennai bench as the awareness is low. However, with the new bench coming up in Kochi in the coming days, we expect more people to approach the bench as the dispute resolution is speedier and the bench is in Kochi,” Goel told.

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