NCLT Urges Litigants To File Joint Memo Of Written Submissions To Avoid Delay In Disposal [Read Notification]

The National Company Law Tribunal (NCLT) on Tuesday urged all the litigants to file "Joint Memo" of written submissions, so as to avoid the lengthy process of filing replies and rejoinders and ensure rapid disposal. The NCLT had restricted its functioning to hear only urgent matters via video conferencing amid the COVID-19 pandemic. It has now urged that in "surreal times" like these, the users of NCLT under Companies Act 2013 and Insolvency and Bankruptcy Code 2016, should cooperate with the Tribunal by filing joint memos, containing points for determination as mutually decided by the parties. Such memo will have to be filed before the Tribunal one day before the date of hearing or at least six hours before the hearing. However, situations that demand grant of ad-interim relief have been exempted from this requirement and it has been clarified that non filing of joint memo will not become a hindrance to NCLT in granting such ad-interim relief. The Tribunal has notified the following steps to be undertaken for filing a joint memo: "The Applicants shall brief facts (mention the supporting material papers while narrating facts) in five to ten lines and the reliefs thereto and serve the same upon the Opposite Party along with its application.The Opposite Party, in turn, shall brief their defence (mention the supporting material papers while narrating facts) in five to ten lines and serve the same upon the Applicants within 24 to 48 hours.Upon exchange of brief facts, both the parties shall jointly draft the points for determination by NCLT.Based on the points for determination, both the parties shall separately set out reasons supporting their respective stands in two to three lines on each of the points for determination. The applicants shall first set out its reasons in bullet points, and then the Opposite Party shall set out its reasons in bullet points.Relevant Material Papers if any for determination of the points from either side, they shall be annexed with the Joint Memo of Written Submissions. This Memo shall capsule all the above steps in two to three pages.This Joint Memo shall, after having signed by both the parties and the counsel, be filed one day before the date of hearing or at least six hours before hearing.If the opposite party does not appear even after service is affected upon him/them, the applicant shall place brief facts, reliefs, relevant material papers and reasons for seeking reliefs in the form of this Memo one day before or six hours before hearing date.This procedure will avoid delays, avoid filing reply and rejoinder and this memo will be user friendly (all in one) to arrive to decisions quickly." Read Notification

NCLT Urges Litigants To File Joint Memo Of Written Submissions To Avoid Delay In Disposal [Read Notification]

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