The three judicial members will have a tenure of 4 years or till they attain the age of 67 years, whichever is earliest
The Centre has approved a proposal to appoint three Judicial members and two Technical members at the National Company Law Appellate Tribunal (NCLAT).
All appeals on orders passed by the National Company Law Tribunal (NCLT) go to NCLAT.
The Appointments Committee of the Cabinet (ACC) has now approved the names of two retired High Court judges and a sitting High Court judge as three Judicial members of NCLAT. The three Judicial members are Justice Rakesh Kumar Jain (retired judge of Punjab and Haryana High Court); Justice Rakesh Kumar (retired judge of Patna High Court) and Justice M Satyanarayana Murthy (judge of Andhra Pradesh High Court). The proposals for the appointments went from Corporate Affairs Ministry (MCA).
The three appointees —who will be eligible for a monthly salary of ₹ 2.25 lakh—will have a tenure of 4 years or till they attain the age of 67 years, whichever is earliest.
Besides the three Judicial members, the ACC has also given its nod for appointment of two technical members. These two technical members are Barun Mitra (retired secretary at Department of Justice) and Naresh Salecha (Member Finance Railway Board).