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The Corporate Affairs Ministry is planning to set up eight special courts under the National Company Law Tribunal (NCLT) to deal with insolvency cases, according to a report by Business Standard.
“These courts will be set up in Mumbai, Delhi, Chennai, Kolkata, and Hyderabad,” a senior ministry official was quoted as saying.
Three courts will be established in Mumbai, two in Delhi, and one each in Chennai, Kolkata, and Hyderabad, sources told the paper.
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After these courts have been set up, Mumbai will have seven courts under the NCLT, while Delhi will have six. Chennai, Kolkata, and Hyderabad will have three courts each.
Apart from insolvency, the NCLT dea…
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