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Published on Sat, Nov 23,2013 | 16:32, Updated at Sat, Nov 23 at 16:32Source : CNBC-TV18 | Watch Video :
In August 2000 the Justice Eradi committee was the first to recommend the creation of a National Company Law Tribunal that would subsume the company law board, BIFR and winding up cases in high courts. The rationale - to avoid long, drawn court proceedings. But the Madras Bar Association thought this tribunalisation to be outside the legislative competence of parliament and 'violative of the doctrine of separation of powers and independence of the judiciary'. That case, referred to as the R Gandhi case was decided in 2010 when a 5 judge constitutional bench upheld the parliament's right to create such a tribunal but observed several unconstitutional design defects and hence laid down guidelines on the composition and functioning of NCLT and NCLAT. Fast forward to 2013 and the Companies Act, 2013 that makes NCLT and NCLAT a legislative reality. But those opposed to the tribunalisation of the judiciary are yet to be convinced - their argument bolstered by the sorry state of affairs in existing tribunal. And so it should come as no surprise that the Madras Bar Association, who sort of half won the case against company law tribunals in 2010, is agitating again. It has filed a petition in the supreme court against the Companies Act 2013 design of the NCLT and NCLAT.
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