National Company Law Appellate Tribunal
ποΈ National Company Law Appellate Tribunal (NCLAT) β Overview
The National Company Law Appellate Tribunal (NCLAT) is a quasi-judicial body established under the Companies Act, 2013, primarily to hear appeals against the decisions of various regulatory and adjudicating authorities related to company and insolvency laws in India.
π Legal Basis
Established under: Section 410 of the Companies Act, 2013
Constituted by: Ministry of Corporate Affairs (MCA)
Came into force: June 1, 2016
π― Key Objectives
To provide a specialized appellate forum for quicker and efficient resolution of company law and insolvency matters.
To reduce the burden on High Courts and streamline dispute resolution processes.
βοΈ Powers & Jurisdiction of NCLAT
NCLAT hears appeals against:
Orders of National Company Law Tribunal (NCLT) β under the Companies Act, 2013.
Orders passed by the Insolvency and Bankruptcy Board of India (IBBI) β under the Insolvency and Bankruptcy Code, 2016 (IBC).
Orders issued by the Competition Commission of India (CCI) β under the Competition Act, 2002.
Orders by the National Financial Reporting Authority (NFRA) β under the Companies Act, 2013.
Orders under Section 61 of the IBC β for appeal against decisions of the adjudicating authority (NCLT) in insolvency matters.
π©ββοΈπ¨ββοΈ Composition of NCLAT
Position | Role |
---|---|
Chairperson | Head of the Tribunal |
Judicial Members | Retired judges or legal experts |
Technical Members | Experts in finance, law, or administration |
Appointed by the Central Government in consultation with the Chief Justice of India (for Chairperson).
π Procedure
Appeals must be filed within 45 days from the date of the NCLT/CCI/IBBI order.
The tribunal may condone delay if sufficient cause is shown (maximum additional 45 days).
Proceedings are less formal than courts but still follow principles of natural justice.
π Further Appeal
Decisions of the NCLAT can be appealed before the Supreme Court of India within 60 days, but only on questions of law (Section 423 of Companies Act, 2013).
π Important Functions Summary
Function | Under Which Law |
---|---|
Appeals from NCLT | Companies Act, 2013 |
Appeals under IBC | Insolvency and Bankruptcy Code, 2016 |
Appeals from CCI | Competition Act, 2002 |
Appeals from NFRA | Companies Act, 2013 |
Final Appellate Authority (before SC) | All above laws |
π Example Situations Where NCLAT is Involved
Disputes in corporate mergers/demergers.
Insolvency resolution plan approval challenges.
Unfair trade practices or anti-competitive agreements.
Financial reporting issues under NFRA.
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