National Company Law Tribunal (NCLT)

NCLT is a quasi-judicial body in India that adjudicates issues relating to Indian companies.
NCLT was constituted under the section 408 of the Companies Act, 2013 on 1st June 2016.
It was based on the recommendations of Justice Eradi committee on the law relating to insolvency and winding up of companies.
NCLT is a specialized court only for Corporates, i.e., companies registered in India.
This will be no more than a Tribunal for the Corporate Members.
It will reduce the multiplicity of litigation before different forums and courts.
It consists of both judicial and technical members while deciding on matters.
Speedy disposal of cases to help reduce the number of cases.
NCLT & NCLAT have exclusive jurisdiction.
The Appellate Tribunal is required to dispose the appeal within a period of six months from the date of the receipt of the appeal.
The decisions of NCLAT may be appealed to the Supreme Court of India.
No civil court has the jurisdiction to consider any suit or proceeding with reference to any matter which the Tribunal or the Appellate Tribunal is empowered to decide.
Appeals can be made by any person aggrieved by an order or decision of the NCLT, within a period of 45 days from the date on which a copy of the order or decision of the Tribunal.