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National Company Law Tribunal (NCLT)

  • Posted By
    10Pointer
  • Categories
    Polity & Governance
  • Published
    28th Aug, 2020
  • 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.

Verifying, please be patient.

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