National Company Law Tribunal

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The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian companies.[1] 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.[2]

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.[3] Justice M.M. Kumar, a retired Chief Justice of the Jammu & Kashmir High Court has been appointed as President of the NCLT[1]

The NCLT has the power under the Companies Act to adjudicate proceedings:

  1. Initiated before the Company Law Board under the previous act (the Companies Act 1956);
  2. Pending before the Board for Industrial and Financial Reconstruction (BIFR), including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985;
  3. Pending before the Appellate Authority for Industrial and Financial Reconstruction; and
  4. Pertaining to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.

Appeals[edit]

Decisions of the NCLT may be appealed to the National Company Law Appellate Tribunal (NCLAT). The decisions of NCLAT may be appealed to the Supreme Court of India.

References[edit]

External links[edit]