CII urges central oversight body to streamline tribunal functioning

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CII urges central oversight body to streamline tribunal functioning - Business Standard

Quick Summary:

The idea of a centralised tribunal oversight body was first endorsed by the Supreme Court in L.Chandra Kumar v.

For instance, the National Company Law Tribunal (NCLT) plays a central role in implementing the Companies Act, 2013, and the Insolvency and Bankruptcy Code, 2016—both crucial to corporate debt resolution and investor confidence, the release said.

Citing a staggering ₹6.7 trillion in tax disputes pending before the Income Tax Appellate Tribunal (ITAT) as of 31 December 2024—amounting to nearly 57 per cent of all litigated direct tax claims—the CII stressed that improving tribunal efficiency could unlock substantial fiscal resources and boost the ease of doing business.