About NCLT:
- National Company Law Tribunal (NCLT) is a quasi-judicial body that governs the companies in India.It was established under the Companies Act, 2013 and is a successor body of the Company Law Board.
- NCLT has the same powers as assigned to the (a)erstwhile Company Law Board (which are mostly related to dealing with oppression and mismanagement) (b)Board for Industrial and Financial Reconstruction (BIFR)(revival of sick companies) and (c)powers related to winding up of companies (which was available only with the High Courts.
About NCLAT:
- National Company Law Appellate Tribunal (NCLAT) was constituted under the Companies Act, 2013.
- It was established for hearing appeals against the orders of (a) National Company Law Tribunal(s) (NCLT) (b)Insolvency and Bankruptcy Board of India and (c)Competition Commission of India (CCI).
