NCLT-What does the full form mean?

 Full form of NCLT

NCLT stands for the National Company Law Tribunal, a quasi-judicial organization responsible for the adjudication of insolvency and bankruptcy cases in India. It is set up under the Companies Act 2013 to act as an appellate body over other tribunals, with the power to settle disputes between companies and its creditors. In this article, we’ll discuss its purpose, jurisdiction, and regulations.

What is NCLT?

NCLT being an Indian quasi-judicial organization, set up in accordance with the Companies Act 2013. It has jurisdiction over companies and individuals to resolve corporate disputes, debt recovery proceedings and other matters related to insolvency in India. Their primary role is that of a tribunal that decides company disputes between creditors and debtors. Moreover, it has appellate power to overturn decisions taken by other tribunals or local courts.

What are the Powers and Functions of the NCLT?

The NCLT has the power to settle all disputes between companies and their creditors relating to insolvency, bankruptcy and winding up of a company. The tribunal adjudicates appeals from its own order under the Companies Act 2013, amalgamation, reconstruction and dissolution of companies, and any other cases delegated to it by other laws. It also may issue directions for investigation into the conduct of affairs of a company in cases of oppression or mismanagement of its affairs.

Purpose of NCLT

The prime purpose of NCLT is that of dealing with the corporate or companies dispute that are civil in nature arising under the Companies Act.
Secondly, pertaining to claims of oppression and mismanagement of a company, winding up and also other powers given under the Companies Act.

Jurisdiction of National Company Law Tribunal

Given below is the list of NCLT benches, namely:-

1. NCLT, Principal Bench and NCLT, New Delhi Bench
2. NCLT, Ahmedabad Bench
3. NCLT, Allahabad Bench
4. NCLT, Bengaluru Bench
5. NCLT, Chandigarh Bench
6. NCLT, Chennai Bench
7. NCLT Guahati Bench
8. NCLT Hyderabad Bench
9. NCLT Kolkata Bench
10. NCLT Mumbai Bench

Final Words

We hope you enjoyed our post about the NCLT. Hope that you now know what the full form of NCLT means and how it relates to the National Company Law Tribunal. If you have any other questions in relation to the NCLT or the National Company Law Tribunal, please feel free to contact us anytime at 9910000833. Thank you for reading and we hope that this article was able to provide you with some interesting information about the NCLT.