The Y. V. Chandrachud Memorial Lecture on Corporate Reforms in India was delivered at the KIIT School of Law by Hon’ble Justice S.J. Mukhopadhyay, Chairperson, National Company Law Appellate Tribunal on 9th of March, 2019.
The Lecture started with the introduction of Former Justice Y.V. Chandrachud, his acumen in delivering justice along with his contribution to the development of law in our country apart from introduction of the Chief Guest of the Memorial Lecture, Hon’ble Justice S.J. Mukhopadhyay and his contribution to the legal fraternity.
Hon’ble Justice S.J. Mukhopadhyay, in his Lecture not only encompassed reforms in the Company Law but also all the major reforms in the realm of Corporate Laws as a whole which has changed the legal scenario of the country. He introduced the concept of reforms through the medium of a story by drawing inferences from the animal kingdom and mythology to denote the various institutions in the corporate world, such as the Interim Resolution Professional, Operational Creditors, Financial Creditors, Promoters and the Adjudicating Authorities.
He talked about how the National Company Law Tribunal and the Appellate Authority had been set up to expedite the resolution of cases relating to Company Law cases and how the pendency of cases have greatly reduced with the emergence of such Tribunals. However, over the course of time, these Tribunals have been additionally given the wide powers of adjudicating on matters relating to corporate insolvency and competition law relating to mergers and acquisitions of companies.
He further went on to explain the efficacy of such an adjudicating authorities and their contribution in strengthening the trade and commerce of the country. He also jovially discussed the tactics a lawyer has to employ to succeed in the business of litigation. After the Lecture, he keenly replied the questions of the students relating to the new laws on insolvency and on the scope of pursuing a career in litigation after graduating.
The Lecture and the discussion went on for over an hour with the audience comprising mostly of students, faculty members and other dignitaries, listening to Justice Mukhopadhyay with rapt attention.