What is nclt in india?

Know about important tribunals in India from the articles linked below:

NCLT was formed based on the recommendations of the Justice Eradi Committee that was related to insolvency and winding up of companies in India.

As of now, the Ministry of Corporate Affairs has 15 NCLT benches. Check the list of NCLT benches below:

Each Bench is headed by a President, 16 judicial members, and 9 technical members. The current and the first President of the NCLT is Justice MM Kumar.

Aspirants should also know that the National Company Law Appellate Tribunal (NCLAT) is a tribunal which was formed by the government under Section 410 of the Companies Act, 2013. NCLAT is responsible for hearing appeals from the orders of the National Company Law Tribunal.

Decisions taken by the NCLT can be appealed to the National Company Law Appellate Tribunal (NCLAT). The decisions of the NCLAT can be appealed to the Supreme Court on a point of law.

The topic, NCLT, is a part of the GS-II syllabus of the UPSC Exam. Candidates can find the complete GS 2 Structure, Strategy, and Syllabus in the linked article.

National Company Law Tribunal – UPSC Notes:- Download PDF Here

Multiple Choice Question

Consider the following statements

Choose the correct answer from the below-given options

Answer: D

NCLT is a quasi-judicial authority incorporated for dealing with corporate disputes that are of civil nature arising under the Companies Act . Initiated before the Company Law Board under the previous act (the Companies Act 1956)