Explain the following concept: National Company Law Appellate Tribunal (NCLAT)

National Company Law Appellate Tribunal was constituted for hearing appeals against the orders of the National Company Law Tribunal.

• NCLAT is also the Appellate Tribunal for hearing appeals against the order passed by the Insolvency and Bankruptcy Board of India.
• It is headed by a chairperson and has a maximum of 11 members comprising of judicial and technical members. 
• An appeal can be made against the order issued by NCLT to NCLAT within 45 days. 
• An appeal can be made against the orders of NCLAT to Supreme Court within 60 days.