The National Company Law Tribunal (NCLT) is not merely adjudicating corporate disputes – it is performing a duty to the nation, Justice Anupinder Singh Grewal, President of the NCLT, told delegates at the “IBC Pulse 2.0” Conference organised by the PHD Chamber of Commerce and Industry (PHDCCI) in Chandigarh.

More than 200 delegates from the judiciary, legal profession, insolvency practice and industry gathered to take stock of India’s evolving insolvency framework under the Insolvency and Bankruptcy Code (IBC), 2016, and to press for reforms that would make the system faster and more predictable.

Addressing the gathering as Chief Guest, Justice Grewal framed the Tribunal’s mandate in explicitly nation-building terms, describing the IBC as one of the pillars that has made India’s insolvency resolution system more structured, transparent and accountable. An efficient insolvency mechanism, he said, is not a technical convenience but a strategic necessity; it strengthens investor confidence, ensures better utilisation of the country’s economic resources, and supports the revival of viable businesses that would otherwise be lost to the economy.

He also spoke of the professionalism and discipline demanded of everyone in the insolvency ecosystem, and recalled how the Tribunal adapted to unprecedented operational constraints during the COVID-19 period without slowing the disposal of corporate and insolvency matters. Strengthening the NCLT further, he said, will require sustained investment in infrastructure, judicial capacity, technology and institutional resources and he invited stakeholders to bring forward constructive suggestions to improve the ecosystem.

Justice M.M. Kumar, Founder President of the NCLT and former Chief Justice of the Jammu and Kashmir High Court, traced the Tribunal’s evolution and made the case that institutions of this scale must keep pace with the demands of a growing economy.

Harnam Singh Thakur, former NCLT Judicial Member, called for more NCLT benches and members and better basic infrastructure to cut pendency and speed up resolution, describing the IBC as one of India’s landmark economic reforms that must keep evolving without compromising its statutory timelines.

G.P. Madaan, Chair of the NCLT and IBC Committee at PHDCCI, said a stronger, better-resourced NCLT is essential to timely resolution, business confidence and the wider economic ecosystem, given the Tribunal’s rising caseload. Dr. P.S.N. Prasad, former Judicial Member, NCLT, added that the institution now needs substantial structural and capacity-building measures to handle its expanding workload.

Dr. Jatinder Singh, Deputy Secretary General, PHDCCI, set out the conference’s focus on policy dialogue, judicial developments, institutional strengthening and the practical challenges of implementing the IBC, while Shekhar Raj Sharma, Additional Advocate General, Haryana, spoke to the changing dynamics of the Indian economy and their impact on growth.

The conference’s sessions brought together distinguished speakers – Shri Kuldip Kumar Kareer, Praveen Gupta, Vivek Atri, Ishaan Madaan, Atul Sood, Anil Katia, Navnit Gupta and insolvency professional K.V. Jain, who examined procedural bottlenecks, institutional reforms and NCLT capacity, and debated what it will take to make insolvency resolution more predictable, efficient and time-bound.

The sessions were moderated by the Co-Chairs of the NLCT & IBC Committee – Ms Ranjana Roy Gawai, Mr Harish Taneja, Mr. Rachit Mittal and Mr. Abhishek Anand. Mr. Jalesh Grover, the Conference convener proposed the vote of thanks.

With more than 200 delegates in attendance, IBC Pulse 2.0 underscored the growing weight of the Insolvency and Bankruptcy Code in India’s corporate and economic framework and the consensus across the judiciary, government and industry that a stronger, better-resourced NCLT is central to that agenda.

Proposed in September 2023, the demerger has been delayed by court-related procedures, taking over two years and now entering its final phase.

Vedanta Limited is one of India’s largest mining and natural resources companies. The demerger is likely to result in significant value creation for shareholders, as metal prices have rallied this year, driving a year-to-date surge of nearly 20% in the Vedanta stock.

As of September 2025, Vedanta has nearly 2021184 retail shareholders (resident individuals), who collectively hold almost 44.63 crore shares in the company. Vedanta also has investments by almost 25,000 Non-Residential Indians, who collectively hold 1.79 crore shares in the company.

Vedanta is a leading Indian natural resources company with a significant global footprint. It has proposed demerging its business units into independent “pure play” companies to unlock value and attract big-ticket investment for expansion and growth.

The company has an asset portfolio comprising zinc, silver, lead, aluminium, chromium, copper, nickel, oil and gas, a traditional ferrous vertical including iron ore and steel, and power, including coal and renewable energy.

After the demerger, each independent entity will have greater freedom to grow to its full potential and realize its true value through independent management, capital allocation, and niche growth strategies. It will also give global and Indian investors the possibility to invest in their preferred vertical, broadening the investor base for Vedanta assets.

The de-merger is planned to be a simple vertical split; for every one share of Vedanta Limited, the shareholders will additionally receive one share of each of the demerged companies.

The demerger will benefit Vedanta’s shareholders as it will simplify Vedanta’s corporate structure with sector-focused independent businesses. It will also provide global investors, including sovereign wealth funds, retail investors, and strategic investors, with direct investment opportunities in dedicated, pure-play companies linked to India’s remarkable growth.

Due to the demerger, each demerged company will have self-driven management teams, providing a platform for individual units to pursue strategic agendas more freely and better align with customers, investment cycles, and end markets. The demerger will also enable investors to value the growth stories within Vedanta’s businesses easily.