NCLT Judicial Member Bhaskara Pantula Mohan will take over as Acting President of the National Company Law Tribunal (NCLT) today.
According to a statement issued by the Central government yesterday, the appointment will be for a period of three months or till joining of a new President or till further orders.
He will succeed R Varadharajan who had a short tenure lasting for three days from June 6, 2021 to June 9, 2021, after Judicial Member Manorama Kumari who had tenure of Acting President for four days from June 2, 2021 to June 5, 2021.
The Ministry of Corporate Affairs, Government of India, has given the Charge of Acting President of National Company Law Tribunal (NCLT) on 09/06/2021, to Judicial Member Bhaskara Pantula Mohan under the provision of section 415(1) of the companies act 2013 for a period of three months or till joining of New President, or till further orders whichever is earliest.
After the retirement of Acting President BSV Prakash on May 31, 2021, his successor Judicial Member Rajeswara Rao Vittanala took charge as Acting President of the NCLT just for one day. NCLT has seen as many as ‘5’ Acting President in the last 10 days.
Several petitions were also filed in the Supreme Court seeking directions to appoint members, extension of tenure of members and to appoint president of the National Company Law Tribunal (NCLT) which is functioning with less working strength. On Monday May 31, 2021, the Supreme Court had directed the Central Government to complete the process of reappointment of members of NCLT and NCLAT at the earliest and not later than two months.
A three judge bench of Justices L. Nageswara Rao, Hemant Gupta and S Ravindra Bhat had noted the submissions made by the Attorney General KK Venugopal that the government has initiated the process for reappointment, by requesting the Hon’ble the Chief Justice of India to constitute a committee for the purposes of the reappointment of members to the NCLT and NCLAT. The Court had also said “we trust and hope” that the reappointment process should be completed expeditiously while directing the Govt to complete the process at the earliest and not later than two months.