National Company Law Tribunal (NCLT) - India
The National Company Law Tribunal (NCLT) is a quasi-judicial authority in India that adjudicates corporate disputes, including insolvency, mergers, and company law matters. It operates under the Companies Act, 2013 and the Insolvency and Bankruptcy Code (IBC), 2016.
Key Functions of NCLT :
Insolvency & Bankruptcy Cases (IBC, 2016)
- Handles corporate insolvency resolution process (CIRP)
- Approves or rejects resolution plans under IBC
- Liquidation and winding-up of companies
Company Law Cases (Companies Act, 2013)
- Disputes related to company incorporation and management
- Oppression and mismanagement cases (Section 241 & 242)
- Misrepresentation and fraud in financial statements
Mergers, Amalgamations & Restructuring
- Approves corporate mergers and demergers
- Reviews compromise and arrangement schemes
- Misrepresentation and fraud in financial statements
Shareholder & Director Disputes
- Protection of minority shareholder rights
- Removal of directors in case of mismanagement
Corporate Governance & Compliance Issues
- Investigates fraudulent activities in companies
- Striking off defunct companies from the register