(a) whether many family related corporate cases are pending for many years and have not been resolved;
(b) if so, the details thereof, along with such pending cases till date, State/ UT-wise;
(c) whether the Government has reviewed the working of these agencies engaged in resolving of such cases; and
(d) if so, the details thereof and the outcome thereon?
THE MINISTER OF STATE IN THE (SHRI ARJUN RAM MEGHWAL)
MINISTRY OF CORPORATE AFFAIRS
(a) & (b): The corporate cases involving disputes between two or more corporates or their promoters or between promoters inter se are adjudicated by National Company Law Tribunal (NCLT), set up under section 408 of the Companies Act, 2013, which started functioning from June 1, 2016. There are 11 benches in all at different cities, with two benches (of which one is a Principal Bench) situated at New Delhi. Previously such disputes were adjudicated by Company Law Board.
(c) NCLT has been established under the Companies Act, 2013 and it functions as per the Act.
(d) Not applicable in view of reply at (c) above.
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