{"id":370789,"date":"2026-09-01T15:44:13","date_gmt":"2026-09-01T10:14:13","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=370789"},"modified":"2026-09-01T15:44:13","modified_gmt":"2026-09-01T10:14:13","slug":"national-company-law-tribunal-nclt-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/national-company-law-tribunal-nclt-2\/","title":{"rendered":"National Company Law Tribunal (NCLT)"},"content":{"rendered":"<div class=\"content-box-green\">\n<p><strong>News:<\/strong>\u00a0The National Company Law Tribunal (NCLT) formed a five-member Bench to decide on Subhash Chandra&#8217;s repayment plan in a personal insolvency case involving claims of more than \u20b922,000 crore after a Division Bench failed to reach a majority verdict.<\/p>\n<\/div>\n<h2 class=\"red-h2-box\">About National Company Law Tribunal (NCLT)<\/h2>\n<figure id=\"attachment_370792\" aria-describedby=\"caption-attachment-370792\" style=\"width: 400px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-370792\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-LawStreet-Journal.jpg?resize=400%2C200&#038;ssl=1\" alt=\"National Company Law Tribunal (NCLT)\" width=\"400\" height=\"200\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-LawStreet-Journal.jpg?resize=300%2C150&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-LawStreet-Journal.jpg?resize=768%2C384&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/09\/Source-LawStreet-Journal.jpg?w=1013&amp;ssl=1 1013w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-370792\" class=\"wp-caption-text\">Source &#8211; LawStreet Journal<\/figcaption><\/figure>\n<ul>\n<li>It is a <b>quasi-judicial body<\/b> established <strong>to handle civil corporate disputes<\/strong>.<\/li>\n<li>It was established on <b>1st June 2016 <\/b>under the <b>Companies Act, 2013.<\/b><\/li>\n<li><b>Objective:<\/b>\u00a0The main goal of NCLT is to <strong>offer a specialized forum for resolving disputes<\/strong> related to <strong>company law and the Insolvency and Bankruptcy Code, 2016 (IBC).\u00a0<\/strong><\/li>\n<li><b>Genesis:<\/b>\u00a0It was established based on the <b>Balakrishna Eradi Committee\u2019s<\/b> recommendations on insolvency and company winding-up laws.<\/li>\n<li><b>Composition:\u00a0<\/b>\n<ul>\n<li>It shall consist of a <strong>President<\/strong> and <strong>such number of Judicial and Technical Members as may be required.\u00a0<\/strong><\/li>\n<li>The <strong>Central Government<\/strong> <strong>appoints these members<\/strong> based on their expertise in fields like law, finance, accountancy, management, and administration.<\/li>\n<\/ul>\n<\/li>\n<li><b>Structure: <\/b>The NCLT has a <b>principal bench in New Delhi<\/b> and other benches in cities such as Ahmedabad, Bengaluru, Chennai, and Kolkata<b>.<\/b><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"7\" data-aria-level=\"1\"><b>Powers:\u00a0<\/b>\n<ul>\n<li>It is not bound by the <b>Code of Civil Procedure (CPC)<\/b> and <b>follows principles of natural justice,<\/b> and the rules set by the Act and the Central Government.<\/li>\n<li>It can enforce orders with the same authority as a court.<\/li>\n<li>It can <b>review its own decisions<\/b>.<\/li>\n<li>It can <b>regulate its own procedures<\/b>.<\/li>\n<li>It handles insolvency resolution for companies and LLPs under the Insolvency and Bankruptcy Code, 2016.<\/li>\n<\/ul>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"11\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"8\" data-aria-level=\"1\"><b>Appeal: <\/b>Decisions of the NCLT may be <strong>appealed to the National Company Law Appellate Tribunal (NCLAT)<\/strong>, the decisions of which may <strong>further be appealed to the Supreme Court of India.\u00a0<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:\u00a0The National Company Law Tribunal (NCLT) formed a five-member Bench to decide on Subhash Chandra&#8217;s repayment plan in a personal insolvency case involving claims of more than \u20b922,000 crore after a Division Bench failed to reach a majority verdict. About National Company Law Tribunal (NCLT) It is a quasi-judicial body established to handle civil corporate&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/national-company-law-tribunal-nclt-2\/\">Continue reading <span class=\"screen-reader-text\">National Company Law Tribunal (NCLT)<\/span><\/a><\/p>\n","protected":false},"author":10393,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,1760,12039],"tags":[11872],"class_list":["post-370789","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-polity-and-nation","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/370789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10393"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=370789"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/370789\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=370789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=370789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=370789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}