CORPORATE EVALUATION RESOLUTION IN INDIA

AUTHORS – SUHASHI SINGH RAJPUT* & DR. RAJIV BHALLA**, LL.M. (MASTER OF LAWS) SCHOLAR* & PROFESSOR**, UNIVERSITY INSTITUTE OF LEGAL STUDIES, CHANDIGARH UNIVERSITY, MOHALI, PUNJAB, INDIA

BEST CITATION – SUHASHI SINGH RAJPUT ^& DR. RAJIV BHALLA, CORPORATE EVALUATION RESOLUTION IN INDIA, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 318-329, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

According to the “Companies Act, 2013’, the National Company Law Tribunal (NCLT) has brought revolutionary change in the corporate conflict management system. This center was designed as a specialized forum to handle corporate law disputes in matters for shareholders, corporate management, and insolvency. It assesses the NCLT ability to provide efficient and fair remedies by critically examining the role of the tribunal for corporate governance about investor confidence. Due to the functions assigned to the NCLT, which include the addressing of complexities and reduction of procedural time, the NCLT has succumbed to some challenges, which include procedural delays, a lack of viable structures, and jurisdictional conflicts with other legal entities. Corporate rescue and insolvency practice in India: The current article shows that while the NCLT has enhanced procedural rationality and judicial autonomy, it still has drawbacks. This paper argues that the efficiency of the current judicial system is frustrated by delays in court cases and unclear jurisdictions, thus requiring reforms in its capacity and functional efficiency. In tracing the evolution of the selected cases, the study details what the NCLT has achieved and where needed improvement is required. There are propositions towards procedure modifications and improvements of physical infrastructure, as well as recommendations relating to matters of jurisdiction, that aim to enhance the contribution of the tribunal towards the steady development of an appropriate corporate legal environment for India.

Keywords: NCLT, Companies Act 2013, corporate dispute resolution, corporate governance, investor confidence, insolvency