According to Corporate Affairs Secretary, the Ministry has proposed to set up 8 Special Courts in Mumbai, Delhi, Chennai, Kolkata and Hyderabad under NCLT to deal with increasing number of IBC cases.

The proposal aims to reduce the burden on NCLT despite it having 11 benches all over India.

In recent times, there has been a substantial increase in number of cases i.e. as many as 6,326 companies had filed under IBC with NCLT till June 2018.

A total of 9,073 cases are under consideration in NCLT as on January 31, 2018, which includes 1,630 cases of M&A, 2,511 cases of IBC and 4,932 cases under Companies Act, 2013.