National Company Law Appellate Tribunal

πŸ›οΈ National Company Law Appellate Tribunal (NCLAT) – 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.

πŸ“˜ Legal Basis

Established under: Section 410 of the Companies Act, 2013

Constituted by: Ministry of Corporate Affairs (MCA)

Came into force: June 1, 2016

🎯 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.

βš–οΈ Powers & Jurisdiction of NCLAT

NCLAT hears appeals against:

Orders of National Company Law Tribunal (NCLT) – under the Companies Act, 2013.

Orders passed by the Insolvency and Bankruptcy Board of India (IBBI) – under the Insolvency and Bankruptcy Code, 2016 (IBC).

Orders issued by the Competition Commission of India (CCI) – under the Competition Act, 2002.

Orders by the National Financial Reporting Authority (NFRA) – under the Companies Act, 2013.

Orders under Section 61 of the IBC – for appeal against decisions of the adjudicating authority (NCLT) in insolvency matters.

πŸ‘©β€βš–οΈπŸ‘¨β€βš–οΈ Composition of NCLAT

PositionRole
ChairpersonHead of the Tribunal
Judicial MembersRetired judges or legal experts
Technical MembersExperts in finance, law, or administration

Appointed by the Central Government in consultation with the Chief Justice of India (for Chairperson).

πŸ“ 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.

πŸ” 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).

πŸ“Œ Important Functions Summary

FunctionUnder Which Law
Appeals from NCLTCompanies Act, 2013
Appeals under IBCInsolvency and Bankruptcy Code, 2016
Appeals from CCICompetition Act, 2002
Appeals from NFRACompanies Act, 2013
Final Appellate Authority (before SC)All above laws

πŸ” 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.

Do write to us if you need any further assistance.

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