Concept: National Company Law Tribunal
National Company Law Tribunal
National Company Law Tribunal (NCLT) is a quasi-judicial body in India governing companies in the country. It is a successor body to the Company Law Board. It was created under section 408 of the Companies Act, 2013. Its principal bench is located in New Delhi. It has 10 other benches at New Delhi, Allahabad, Ahmedabad, Chennai, Bangalore, Chandigarh, Guwahati, Mumbai, Kolkata and Hyderabad. It has the same powers as the former Company Law Board (dealing with oppression and mismanagement) and the Board for Industrial and Financial Reconstruction (BIFR – for sick companies’ revival) and powers concerned with the winding up of companies (this power rested earlier only with the High Courts).