New Delhi, Dec. 22 -- The Ministry of Corporate Affairs has sought the Cabinet's approval for a proposal to set up 50 additional courts of the National Company Law Tribunal (NCLT) and two more benches of the National Company Law Appellate Tribunal (NCLAT).

The proposal was shared with the Select Committee examining the Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2025.

Regulations Planned to Enforce Timelines

The Ministry informed the Parliamentary panel that it plans to frame regulations under the proposed 'Adjudicating Authority Rules for the IBC process' to ensure adherence to statutory timelines, reported BS.

The regulations would be drafted after 'carefully calibrating the infrastructure, functional and administrative req...