Govt approves ordinance re-issuance to declog NCLT, improve ease of doing business

The Union Cabinet Thursday approved re-issuance of an ordinance to improve ease of doing business, declog the NCLT and prescribe strong action against non-compliant companies.

A bill to replace earlier ordnance was passed by the Lok Sabha in the Winter Session and is pending in the Rajya Sabha. The ordinance was brought with a view to declog special courts and the National Company Law Tribunal (NCLT). It will also reduce the burden on NCLT and special courts and improve the ease of doing business in the country.