Chandigarh (Naval Kishore): The National Company Law Tribunal (NCLT) is not merely adjudicating corporate disputes – it is performing a duty to the nation, Justice Anupinder Singh Grewal, President of the NCLT, told delegates at the “IBC Pulse 2.0” Conference organised by the PHD Chamber of Commerce and Industry (PHDCCI) in Chandigarh.
More than 200 delegates from the judiciary, legal profession, insolvency practice and industry gathered to take stock of India’s evolving insolvency framework under the Insolvency and Bankruptcy Code (IBC), 2016, and to press for reforms that would make the system faster and more predictable.
Addressing the gathering as Chief Guest, Justice Grewal framed the Tribunal’s mandate in explicitly nation-building terms, describing the IBC as one of the pillars that has made India’s insolvency resolution system more structured, transparent and accountable. An efficient insolvency mechanism, he said, is not a technical convenience but a strategic necessity; it strengthens investor confidence, ensures better utilisation of the country’s economic resources, and supports the revival of viable businesses that would otherwise be lost to the economy.
Justice M.M. Kumar, Founder President of the NCLT and former Chief Justice of the Jammu and Kashmir High Court, traced the Tribunal’s evolution and made the case that institutions of this scale must keep pace with the demands of a growing economy.
Harnam Singh Thakur, former NCLT Judicial Member, called for more NCLT benches and members and better basic infrastructure to cut pendency and speed up resolution, describing the IBC as one of India’s landmark economic reforms that must keep evolving without compromising its statutory timelines.
G.P. Madaan, Chair of the NCLT and IBC Committee at PHDCCI, said a stronger, better-resourced NCLT is essential to timely resolution, business confidence and the wider economic ecosystem, given the Tribunal’s rising caseload. Dr. P.S.N. Prasad, former Judicial Member, NCLT, added that the institution now needs substantial structural and capacity-building measures to handle its expanding workload.
Dr. Jatinder Singh, Deputy Secretary General, PHDCCI, set out the conference’s focus on policy dialogue, judicial developments, institutional strengthening and the practical challenges of implementing the IBC, while Shekhar Raj Sharma, Additional Advocate General, Haryana, spoke to the changing dynamics of the Indian economy and their impact on growth.
The conference’s sessions brought together distinguished speakers – Shri Kuldip Kumar Kareer, Praveen Gupta, VivekAtri, Ishaan Madaan, Atul Sood, Anil Katia, Navnit Gupta and insolvency professional K.V. Jain, who examined procedural bottlenecks, institutional reforms and NCLT capacity, and debated what it will take to make insolvency resolution more predictable, efficient and time-bound.
The sessions were moderated by the Co-Chairs of the NLCT& IBC Committee – MsRanjana Roy Gawai, Mr Harish Taneja, Mr. Rachit Mittal and Mr. Abhishek Anand. Mr. Jalesh Grover, the Conference convener proposed the vote of thanks.
