Explain the following concept: National Company Law Tribunal (NCLT)
Explain the following concept:
National Company Law Tribunal (NCLT)
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- The Central Government has constituted National Company Law Tribunal in June 2016.
- It is a quasi-judicial body, which grants approvals and handles Corporate Civil Disputes.
- The Tribunal operates through 15 ‘Benches’ consisting of 2 members i.e. a judicial member and a technical member.
- The Tribunal has to dispose of every application or petition within 3 months of receiving it.
- An appeal against the order of NCLT can be made to National Company Law Appellate Tribunal (NCLAT).
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