New Delhi, Aug 16 (IANS) The government plans to set up a tribunal that will speed up mergers and acquisitions process, Corporate Affairs Minister Salman Khurshid said Monday.
To be called National Company Law Tribunal, it will replace the company law board, board for industrial and financial reconstruction and High Court jurisdiction relating all matters under the Companies Act.
The supreme court has already given green signal to the setting up the new tribunal, Khurshid said in written reply in the Rajya Sabha.
‘National Company Law Tribunal with its exclusive jurisdiction to deal with all matters connected with the Companies Act will speed up mergers and acquisitions,’ he added.
