Question

Write short answers for the following :
What are the functions of National Company Law Tribunal?

Answer 1

National Company Law Tribunal was constituted on 1 June 2016 under the Companies Act 2013 by the government based on the recommendations of the justice Eradi committee. It is a quasi-judicial body that adjudicates issues relating to Indian companies. It has eleven benches, two at New Delhi (one being the principal bench) and one each at Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata and Mumbai.

• It has the power to resolve proceedings:
  

1. Initiated before the Company Law Board
   
2. Pending before the Board for Industrial and Financial Reconstruction (BIFR), including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985
   
3. Pending before the Appellate Authority for Industrial and Financial Reconstruction
   
4. Related to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.
   

However, the decisions of the NCLT may be appealed to the National Company Law Appellate Tribunal (NCLAT) and the decisions of NCLAT may be appealed to the Supreme Court of India.