Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
The Ministry of Corporate Affairs (MCA) has extended the tenure of acting President of National Company Law Tribunal (NCLT) BSV Prakash Kumar for a period of additional three months.
Kumar’s tenure has been extended to another three months or till the joining of new President, whichever is earlier, the ministry informed the NCLT.
Advertisement
“It has been decided to extend the tenure of BSV Prakash Kumar as acting President for a period of another three months with effect from 5th April 2020, or till joining of new President, or until further orders, whichever is earlier,” the MCA said in an intimation issued to Registrar, NCLT.
Advertisement
“A notification for the same would be issued in due course,” the statement added.
Kumar was initially appointed for a period of three months, starting from January 5, after the retirement of Justice MM Kumar as the NCLT President.
His temporary tenure is about to expire later this week on April 5.
Currently, hearing of all the NCLT benches across India is closed, following the lockdown declared by the government to contain COVID-19 pandemic.
The NCLT was set up under section 408 of the Companies Act, 2013 on June 1, 2016.
Besides a Principal Bench at New Delhi, it has fourteen other benches across India in cities, including Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai, Cuttack, Jaipur, Kochi, Amravati and Indore.
Advertisement
