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National Company Law Tribunal

From Wikipedia, the free encyclopedia

The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian companies.[1] The tribunal, established under the Companies Act 2013, was constituted on 1 June 2016 by the government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies.[2]

National Company Law Tribunal
राष्ट्रीय कंपनी विधि अधिकरण
Quasi-judicial body overview
Formed1 June 2016; 8 years ago (2016-06-01)
JurisdictionGovernment of India
Parent departmentMinistry of Corporate Affairs
Websitehttps://nclt.gov.in/

All proceedings under the Companies Act, including proceedings relating to arbitration, compromise, arrangements, reconstructions and winding up of companies, are to be before the National Company Law Tribunal (NCLT). The NCLT bench is chaired by a Judicial member, who is to be a serving or retired High Court Judge, and a Technical member, who must be from the Indian Corporate Law Service (ICLS) cadre.

The National Company Law Tribunal is the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankruptcy Code, 2016.

No criminal court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Tribunal or the Appellate Tribunal is empowered to determine by or under this Act or any other law for the time being in force and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or any other law for the time being in force, by the Tribunal or the Appellate Tribunal.

The tribunal has sixteen benches, six at New Delhi (one being the principal bench) and two at Ahmedabad, one at Prayagraj, one at Bengaluru, one at Chandigarh, two at Chennai, one at Cuttack, one at Guwahati, three at Hyderabad of which one is at Amaravathi,[3] one at Jaipur, one at Kochi, two at Kolkata and five at Mumbai.[4] Of the two new benches approved to be set up, one each in Indore[5] and Amaravathi,[5] the Indore bench is yet to be notified. Except the Bench at Amaravati, all the benches have been notified as division benches. Justice R. Sudhakar, a retired Chief Justice of Manipur High Court has been appointed as president of the tribunal since 1 November 2021.[1]

The National Company Law Tribunal has the power under the Companies Act to adjudicate proceedings:

  1. Initiated before the Company Law Board under the previous act (the Companies Act 1956);
  2. Pending before the Board for Industrial and Financial Reconstruction, including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985;
  3. Pending before the Appellate Authority for Industrial and Financial Reconstruction; and
  4. Pertaining to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.

List of present members

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Following is the list of Hon'ble President and Sitting Members:[6]

Sr.No Name Designation Date of Joining NCLT Bench
1 Chief Justice (Retd) Ramalingam Sudhakar President 01-11-2021 Principal Bench
2 Shyam Babu Gautam Member 03-07-2019 Kochi
3 Patibandla Satyanarayana Prasad Member 04-07-2019 Chandigarh
4 Venkata Subba Rao Hari Member 04-07-2019 Guwahati
5 Laxmi Narayan Gupta Member 04-07-2019 New Delhi
6 Satya Ranjan Prasad Member 24-07-2019 Guwahati
7 Deep Chandra Joshi Member 13-09-2021 Jaipur
8 Rahul Prasad Bhatnagar Member 13-09-2021 New Delhi
9 Avinash K Srivastava Member 13-09-2021 New Delhi
10 Anuradha Sanjay Bhatia Member 13-09-2021 Amravati
11 Rohit Kapoor Member 14-09-2021 Kolkatta
12 P Mohan Raj Member 15-09-2021 Cuttack
13 Harnam Singh Thakur Member 16-09-2021 Chandigarh
14 Balraj Joshi Member 16-09-2021 Kolkatta
15 Manoj Kumar Dubey Member 16-09-2021 Bengaluru
16 Subrata Kumar Dash Member 20-09-2021 Chandigarh
17 Kaushelndra Kumar Singh Member 01-10-2021 Indore
18 Dr V R Badrinath Nandula Member 04-10-2021 Hyderabad
19 Sameer Kakar Member 09-10-2021 Ahmedabad
20 Bacchu Venkat Balaram Das Member 18-10-2021 New Delhi
21 Kishore Vemulapalli Member 06-12-2021 Mumbai
22 Kuldip Kumar Kareer Member 18-11-2022 Mumbai
23 Praveen Kumar Gupta Member 18-11-2022 Allahabad
24 Ashok Kumar Bhardwaj Member 18-11-2022 New Delhi
25 Bidisha Banerjee Member 18-11-2022 Kolkatta
26 Charan Singh Member 18-11-2022 Hyderabad
27 Anu Jagmohan Singh Member 18-11-2022 Mumbai
28 Ashish Kumar Verma Member 18-11-2022 Allahabad
29 Atul Chaturvedi Member 18-11-2022 New Delhi
30 Prabhat Kumar Member 18-11-2022 Mumbai
31 T Krishna Valli Member 22-11-2022 Kochi
32 Madhu Sinha Member 09-12-2022 Mumbai
33 Sanjiv Jain Member 04-01-2023 Chennai
34 Mahendra Khandelwal Member 18-01-2023 New Delhi
35 Shammi Khan Member 20-02-2023 Ahmedabad
36 Virendrasingh Gyansingh Bisht Member 19-07-2023 Mumbai
37 Lakshmi Gurung Member 19-07-2023 Mumbai
38 Reeta Kohli Member 19-07-2023 Mumbai
39 Rajeev Bhardwaj Member 19-07-2023 Hyderabad
40 Manni Sankariah Shanmuga Sundaram Member 19-07-2023 New Delhi
41 Chitra Ram Hankare Member 19-07-2023 Ahmedabad
42 Rajeev Mehrotra Member 19-07-2023 Jaipur
43 Sanjiv Dutt Member 19-07-2023 Mumbai
44 Sanjay Puri Member 19-07-2023 Hyderabad
45 Umesh Kumar Shukla Member 19-07-2023 Chandigarh
46 Arvind Devanathan Member 19-07-2023 Kolkatta
47 Ravichandran Ramasamy Member 19-07-2023 Chennai
48 Venkataraman Subramaniam Member 19-07-2023 Chennai
49 Velamur Govindan Venkata Chalapathy Member 19-07-2023 Ahmedabad
50 Anil Raj Chellan Member 19-07-2023 Mumbai
51 Charanjeet Singh Gulati Member 19-07-2023 Mumbai
52 K R Saji Kumar Member 01-08-2023 Mumbai
53 Sanjeev Ranjan Member 18-09-2023 New Delhi
54 Jyoti Kumar Tripathi Member 11-10-2023[7] Chennai
55 K. Biswal Member Bengaluru

Appeals

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Decisions of the tribunal may be appealed to the National Company Law Appellate Tribunal, the decisions of which may further be appealed to the Supreme Court of India on a point of law. The Supreme Court of India has upheld the Insolvency and Bankruptcy Code in its entirety.[8]

References

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  1. ^ a b "Hon'ble President of National Company Law Tribunal". National Company Law Tribunal. 30 November 2023.
  2. ^ "Organisation | NCLT". Archived from the original on 21 March 2018. Retrieved 20 March 2018.
  3. ^ "Archived copy" (PDF). Archived from the original (PDF) on 27 August 2019. Retrieved 27 July 2019.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ "The National Company Law Appellate Tribunal and the National Company Law Appellate Tribunal Constituted". Trilegal. Archived from the original on 13 August 2018. Retrieved 13 June 2016.
  5. ^ a b "NCLT benches to be set up at Amaravati, Indore". The Economic Times. 8 March 2019. Retrieved 27 April 2019.
  6. ^ "Profile of Hon'ble President and Sitting Members | National Company Law Tribunal". nclt.gov.in. Retrieved 1 December 2023.
  7. ^ "Reconstituted of Bench at NCLT Chennai- Court No. II- order dated 11.10.2023.pdf" (PDF). Retrieved 2 December 2023.
  8. ^ "IBC: Supreme Court Upholds Insolvency And Bankruptcy Code In Its Entirety". BloombergQuint. Retrieved 5 February 2019.
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