Justice Deshmukh assumes charge as CLB Chairman

Justice Dilip Rao Sahib Deshmukh yesterday assumed charge as the new Chairman of the Company Law Board. He starts his term at a difficult time, especially after the Vasudevan incident. Right now the credentials of the CLB is under intense media and public glare. The CLB currently has three members, including the newly-appointed Chairman..Justice Dilip Rao Sahib Deshmukh yesterday assumed charge as the new Chairman of the Company Law Board, after his predecessor, acting chairman, R. Vasudevan was arrested and remanded to judicial custody on Tuesday, on charges of accepting a bribe..The ardent tennis and billiards player has been in the judicial services since 1970, and retired as a judge of the Chattisgarh High Court in September this year. He was slated to join on December 1, but the date was brought forward by the Ministry of Corporate Affairs after Vasudevan’s arrest..Minister for Corporate Affairs, Salman Khurshid, also announced at a press conference that the Ministry was planning to fill the remaining seven vacant seats on the CLB. He also dismissed the suggestion that the Ministry was going to revisit the cases decided by Vasudevan..Justice Deshmukh starts his stint at the CLB during difficult times and has his task cut out. Given that the credentials of the quasi judicial body is now under the intense glare of the public and the media eye after the Vasudevan incident. The CLB currently has three members, including the newly-appointed Chairman. As of March 2009, the CLB had 2,870 pending cases.