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5 Issue 2 Indian J.L. & Legal Rsch. 1 (2023)
NCLT and Its Shortcomings in Corporate Insolvency

handle is hein.journals/injlolw11 and id is 5020 raw text is: Indian Journal of Law and Legal Research NCLT AND ITS SHORTCOMINGS IN CORPORATE INSOLVENCY Ashu Vaishnav, Christ (Deemed to be University) INTRODUCTION The Indian Judicial System can be dated as back as to the Dravidian era where a set of laws were supervised and followed. When the Aryans arrived, they followed suit and later, every community who immigrated made sure to implement their own laws and formulate their own system of justice. For a great number of years, the act of delivering justice was usually bestowed upon a ruler, it wasn't until colonization that the establishment of courts took place in the country. It was during 1600s that the first court was established by the British Raj. Though the fairness of the system was quite questionable, the introduction of courts was surely a new phase in the country's history as it established an eligibility criteria for people who aimed to deliver justice. As of today, the Supreme Court of India is the apex court of the nation whose jurisdiction applies to the entire country, succeeded by the High Courts who exercise their jurisdiction in their own respective states. Further, the judiciary is divided into two categories, the Civil Courts and the Criminal Courts, this is where majority of the matters are heard and disposed of. However, over the years, it has been observed that the courts are burdened with cases that far exceed their capacity, with evolving times, many new issues have been raised and former issues have remained unsolved. Thus, it didn't come as a surprise when in the case of S.P. Sampath Kumar v. Union of India,1 a need to establish specialized tribunals was set forward before the Supreme Court. To strengthen this resolution even more, the 124th Report by the Law Commission of India presented a detailed analysis as to why independent tribunals should be established, and how they should be formulated to deal with cases of their own expertise. The resolution was accepted, and the tribunals were formed. Page: 1 1(1987) 1 S.C.C. 12. Volume V Issue 11 1 ISSN: 2582-8878

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