All the 11 benches of the newly constituted National Company Law Tribunal (NCLT) will be fully functional in next "couple of days", a top Corporate Affairs Ministry (MCA) official said.

Infrastructure is ready in all the ten cities where the NCLT benches are being set up. The human resources aspect has also been taken care of and adequate steps taken to start work immediately.

To begin with, NCLT will handle all pending cases before the Company Law Board and other matters not assigned to any other Court, the official said.

"There will be no transition problem for existing CLB cases", the official added.

As on date, as many as eight members have joined NCLT out of approved 25 members.

"Remaining members are expected to join in the next few days. They will be posted in various benches in next few days", the official said.

MCA has also planned a 10-day colloquium in July for the NCLT members, the official added.

Asked about the status of cases before High Courts (company cases), the MCA official said that High Court will be the second stage of transfer.

"We will let the CLB cases transition stabilise for some time and then after that in discussion with NCLT chairman decide on the High Courts related matter", the official said.

The creation of NCLT from June 1 is expected to speed up delivery of justice in corporate cases.

Initially, 11 NCLT benches will be set up. There will be two in New Delhi and one each at Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Gauhati, Hyderabad, Kolkata and Mumbai.

Meanwhile, the Company Law Board hearing in the Financial Technologies' Board removal case did not take place on Thursday as the CLB stood dissolved on May 31 by virtue of latest government move to set up NCLT from June 1.

Indications are that a NCLT bench will hear this matter in the coming days, sources said. #casansaar (The Hindu)