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The Central Government has approved the establishment of two new benches of National Company Law Tribunal (NCLT).
One Bench would be established at Amaravati in Andhra Pradesh and the other at Indore in Madhya Pradesh.
As per the PIB Press Release dated March 8, Centre has approved additional benches of National Company Law Tribunal in view of the increasing caseload, especially under the Insolvency & Bankruptcy Code 2016.
The jurisdiction of the Bench at Amaravati will be the State of Andhra Pradesh, and that of Indore will be the State of Madhya Pradesh.
Currently, Andhra Pradesh comes under the jurisdiction of the NCLT Bench at Hyderabad and Madhya Pradesh comes under the jurisdiction of the NCLT Bench at Ahmedabad.
As on date, there are fourteen NCLT Benches, including the Principal Bench in New Delhi. Three NCLT benches at Jaipur, Kochi and Cuttack were also established recently.
Read the PIB Release below.