Maharashtra State BoardHSC Commerce 11th
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Explain the following term/ concept:National Company Law Tribunal (NCLT). - Secretarial Practice

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Short Note

Explain the following term/ concept:
National Company Law Tribunal (NCLT).

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(1) National Company Law Tribunal (NCLT) is a quasi-judicial body established in June 2016 by the Central Government to grant approvals and decide civil disputes under the provisions of the Companies Act. 2013. NCLT operates through ‘Benches' consisting of 2 members, i.e. a judicial member and a technical member. At present there are as many as 15 benches and the principal Bench is functioning at New Delhi. Some more benches are being created.
(2) NCLT is required to decide and dispose off every application or petition within 3 months from the date of receiving the application or petition. NCLT is required to give a reasonable opportunity to both parties to explain their views to justify their case and then it has to give a decision and pass its order. Any party aggrieved by an order of the N CLT may within 45 days from date of receiving a copy of the order, file an appeal to the National Company Law Appellate Tribunal (NCLAT).

Concept: National Company Law Tribunal (NCLT)
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Balbharati Secretarial Practice 11th Standard HSC Maharashtra State Board
Chapter 12 Correspondence with Statutory Authorities
Exercise Q.2 | Q 3 | Page 185
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