Core Viewpoint - The National Company Law Tribunal (NCLT) has faced criticism from the Supreme Court regarding its operational inefficiencies and the need for structural reforms to address the backlog of cases, particularly under the Insolvency and Bankruptcy Code (IBC) [2][4][8]. Group 1: Judicial Criticism and Operational Challenges - The Supreme Court has mandated the filling of vacancies in NCLT and NCLAT and the establishment of dedicated IBC benches to address operational inefficiencies [2][3]. - The NCLT's dual role under the Companies Act and IBC has led to a skewed focus on IBC-related cases, impacting its ability to adjudicate other corporate disputes effectively [4][5]. - As of March 31, 2025, there were 48,089 fresh IBC filings and 36,374 filings under the Companies Act, with a total of 30,600 pending IBC cases and 15,033 pending under the Companies Act [5]. Group 2: Proposed Reforms and Future Directions - A parliamentary finance committee has proposed the creation of dedicated NCLT and NCLAT courts for IBC cases to address delays, which currently average 507 days, exceeding the 330-day limit set by the Code [8][9]. - The proposal suggests converting existing NCLTs under the Companies Act to handle IBC matters exclusively, allowing High Courts to regain jurisdiction over all Companies Act matters [9].