NCLT/ NCLAT Matters
The National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT)
The National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) are quasi-judicial bodies in India that deal with matters related to company law and insolvency resolution. These tribunals were established under the Companies Act, 2013, to consolidate and streamline the resolution process for companies and address various corporate matters.
National Company Law Tribunal (NCLT)
Formation
The NCLT was constituted on June 1, 2016, replacing the Company Law Board.
Jurisdiction
NCLT has jurisdiction over matters related to company law, including the winding up of companies, mergers and acquisitions, and other disputes involving companies.
Composition
NCLT is composed of judicial and technical members who are appointed by the central government.
National Company Law Appellate Tribunal (NCLAT)
Formation
NCLAT was established as the appellate authority to hear appeals against the orders of NCLT.
Jurisdiction
NCLAT hears appeals from the decisions of NCLT and also deals with certain appeals related to the Competition Commission of India (CCI).
Composition
Similar to NCLT, NCLAT is composed of judicial and technical members.
Key Matters Handled by NCLT/NCLAT:
Insolvency and Bankruptcy Code (IBC) Matters:
- NCLT handles insolvency resolution proceedings for corporate entities under the IBC
- It approves resolution plans and oversees the liquidation process.
Company Law Matters:
- NCLT deals with matters related to the Companies Act, such as mergers, demergers, and compromises.
- It has the authority to hear cases related to oppression and mismanagement.
Winding Up of Companies:
- NCLT has jurisdiction over the winding-up proceedings of companies, both voluntary and compulsory.
Competition Law Appeals:
- NCLAT hears appeals related to competition matters, including those against decisions of the Competition Commission of India (CCI).
