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The Supreme Court has recently issued notice on a plea challenging the notification fixing the tenure of National Company Law Tribunal Members at 3 years while seeking direction to modify the same to 5 years.

A bench of Justice L Nageswara Rao, Justice BR Gavai, and Justice Aniruddha Bose while issuing notice in the matter listed the same for hearing after 4 weeks. 

The bench was hearing a petition filed by National Company Law Tribunal Bar Association has challenged the notification issued by the Ministry of Corporate Affairs fixing the term to 3 years of attaining the age of 65 years.

The petitioner had argued that the early leaving of the members will leave several seats vacant that will lead to the pendency of the matters. 

In addition to this, it was further argued that the notification is in violation of the Supreme Court judgment in Madras Bar Association Vs. Union of India & Anr. wherein it was said that the tenure shall be 5 years for the members.

The Counsel further submitted that the tenure of 3 years is a very short period and it isn't useful as by the time a member attains the required knowledge, experience, and expertise, the tenure expires.

Cause Title: National Company Law Tribunal Bar Association Vs. Union of India