The Union government told the Delhi High Court that appointment of a regular NCLT President remains pending since December 2025. The Centre stated it awaits recommendation from the Chief Justice of India under Companies Act provisions.
The National Company Law Appellate Tribunal (NCLAT) dismissed Jindal Poly Films Limited’s appeal challenging the National Company Law Tribunal (NCLT) order admitting a shareholder class action petition and directing issuance of public notice under the Companies Act, 2013, affirming continuation of class action proceedings.
The Supreme Court upheld NFRA’s authority to probe financial auditor misconduct retrospectively, dismissing an appeal against NCLAT ruling. This affirms NFRA’s jurisdiction and regulatory oversight, impacting financial auditing in India. Legal experts’ opinions vary, highlighting the need for clarity in regulatory enforcement. NFRA imposed penalties on CAs, emphasizing compliance with auditing standards. The NCLAT ruling asserts NFRA’s retrospective jurisdiction and supremacy in auditing standards. The Supreme Court’s dismissal reinforces this decision.
