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What is the important objective of NCLAT?
NCLAT is also the Appellate Tribunal to hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI) – as per the amendment brought to Section 410 of the Companies Act, 2013 by Section 172 of the Finance Act, 2017, with effect from 26th May, 2017 …
What is the role of National Company Law Appellate Tribunal?
The tribunal is responsible for hearing appeals from the orders of National Company Law Tribunal(s) (NCLT), starting on 1 June 2016. The tribunal also hears appeals from orders issued by the Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC.
How many NCLAT benches are there in India?
The tribunal has sixteen benches, six at New Delhi (one being the principal bench) and two at Ahmedabad, one at Allahabad, one at Bengaluru, one at Chandigarh, two at Chennai, one at Cuttack, one at Guwahati, three at Hyderabad of which one is at Amaravathi, one at Jaipur, one at Kochi, two at Kolkata and five at …
What is NCLAT and NCLT?
BACKGROUND. The National Company Law Tribunal (NCLT) & The National Company Law Appellate Tribunal (NCLAT) were established on 1st June, 2016 under the Companies Act, 2013. The NCLT & NCLAT are quasi-judicial bodies in India that adjudicate issues relating to Indian Companies.
How many NCLT and NCLAT are there in India?
NCLT has 16 benches throughout India. NCLAT has two benches throughout India one at New Delhi and another at Chennai.
What is NCLAT Upsc?
The National Company Law Tribunal or NCLT is a quasi-judicial body in India adjudicating issues concerning companies in the country. In this article, you can read a brief about the National Company Law Tribunal for IAS Exam. This is an important topic in the UPSC Syllabus.
When was Nclat formed?
June 1, 2016, India
National Company Law Appellate Tribunal/Founded
The National Company Law Tribunal (NCLT) & The National Company Law Appellate Tribunal (NCLAT) were established on 1st June, 2016 under the Companies Act, 2013. The NCLT & NCLAT are quasi-judicial bodies in India that adjudicate issues relating to Indian Companies.
What are the advantages of establishing NCLT and Nclat?
Advantages for National Company Law Tribunal NCLT will reduce the multiplicity of litigation before different forums and courts. NCLT has multiple branches and is able to provide justice at a close range. NCLT consists of both judicial and technical members while deciding on matters.
Where is NCLAT?
Presently, the NCLAT like other judicial and quasi-judicial bodies is conducting virtual hearings of cases for its Delhi-based Principal bench and Chennai bench. The NCLAT was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of the National Company Law Tribunal (NCLT).