The Induction Colloquium commenced with a formal inaugural session presided over by Hon’ble President, National Company Law Tribunal, Chief Justice (Retd.) Ramalingam Sudhakar. The session set the institutional and thematic tone for the programme, underscoring the central role of the NCLT in India’s economic and insolvency framework. Dr. Manoj Govil, Secretary, Ministry of Corporate Affairs, and Shri Ravi Mittal, Chairperson, Insolvency and Bankruptcy Board of India, graced the occasion as Guests of Honour. Hon’ble Member (Judicial) Shri Ashok Bhardwaj delivered the welcome remarks, while Hon’ble Member (Technical) Shri Rahul Bhatnagar proposed the vote of thanks.

In his address, Shri Ravi Mittal, Chairperson, IBBI, welcomed the newly inducted Members and highlighted the transformative impact of the Insolvency and Bankruptcy Code on India’s corporate and credit culture. He noted that the NCLT has emerged as a key forum for complex commercial adjudication, attracting leading counsels and law firms, and has delivered record outcomes in resolution during FY 2022–23. Emphasising the socio-economic implications of insolvency adjudication, he referred to large real estate cases involving lakhs of homebuyers and underscored the responsibility entrusted to the Tribunal. He also apprised the Members of an upcoming IIM Ahmedabad study assessing the macro-economic impact of resolutions under the IBC.

Dr. Manoj Govil, Secretary, MCA, congratulated the Members and stressed that the functioning of the NCLT has a direct bearing on national economic growth, with the potential to significantly contribute to GDP through revival of stressed assets. He assured institutional support through timely filling of vacancies, strengthening of legal research assistance, and reforms relating to adjudicatory rules, digitalisation, and transparency. He emphasised the importance of continuous interaction among Members to address divergent views and welcomed the role of colloquiums in improving consistency and performance.

The keynote address by Hon’ble President, Chief Justice (Retd.) Ramalingam Sudhakar, provided a reflective and forward-looking perspective on the evolution of India’s corporate adjudicatory framework. Tracing the institutional journey from the Company Law Board, BIFR, and AAIFR to the NCLT, His Lordship observed that the enactment of the Insolvency and Bankruptcy Code marked a decisive shift in addressing non-performing assets and restoring economic discipline. He emphasised that the achievements of the NCLT are intrinsically linked to India’s broader economic success.

Addressing the newly inducted Members, the Hon’ble President underlined the need to harmonise commercial wisdom with statutory mandates under the Companies Act and the IBC. He stressed that speed, efficiency, and institutional responsibility are integral to the adjudicatory role entrusted to the Tribunal. Encouraging openness and dialogue, His Lordship reaffirmed his commitment to collective decision-making and urged Members to discharge their functions with independence, consistency, and a deep sense of responsibility towards the institution.

The inaugural session thus laid a strong foundation for the Colloquium, reinforcing the shared commitment of the judiciary, regulator, and executive towards strengthening insolvency adjudication and corporate governance in India.