National Company Law Tribunal
The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The NCLT was established under the Companies Act 2013 and was constituted on 1 June 2016 by the government of India & is based on the recommendation of the justice Eradi committee on law relating to insolvency and winding up of companies.
The NCLT has eleven benches, two at New Delhi (one being the principal bench) and one each at Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kochi, Kolkata and Mumbai. Justice M.M. Kumar, a retired Chief Justice of the Jammu & Kashmir High Court has been appointed as President of the NCLT
The NCLT has the power under the Companies Act to adjudicate proceedings:
- Initiated before the Company Law Board under the previous act (the Companies Act 1956);
- Pending before the Board for Industrial and Financial Reconstruction (BIFR), including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985;
- Pending before the Appellate Authority for Industrial and Financial Reconstruction; and
- Pertaining to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.
- "National Company Law Tribunal constituted - new perspectives for dispute resolution". Khaitan & Co. Retrieved 13 June 2016.
- https://nclt.gov.in/content/organisation. Retrieved 20 March 2018. Missing or empty
- "The National Company Law Appellate Tribunal and the National Company Law Appellate Tribunal Constituted". Trilegal. Retrieved 13 June 2016.