New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the creation of six additional posts –three judicial members and three technical members –in the National Company Law Appellate Tribunal (NCLAT).
The posts will be created in Level 17 (Rs 2,25,000 fixed) plus allowances as admissible. The total financial implication will be Rs 2,27,82,096 per annum, government said.
NCLAT is a quasi-judicial body that hears appeals against rulings of the National Company Law Tribunal (NCLT).
“This will ensure to meet the mandate provided to NCLAT by the Finance Act, 2017, the Companies Act, the IBC, 2016 and the time frame provided for disposal of cases,” an official release said.