Briefly discuss the Constitution of National Company Law Tribunal.
CS Executive · Jurisprudence, Interpretation and General Laws · PYQS · December 2021
Briefly discuss the Constitution of National Company Law Tribunal.
Answer & Explanation:
As per section 408 of the Companies Act, 2013, the Central Government shall, by notification, constitute, a Tribunal to be known as the National Company Law Tribunal consisting of a President and such number of Judicial and Technical members, as the Central Government may deem necessary, to be appointed by it by notification, to exercise and discharge such powers and functions as are, or may be, conferred on it by or under the Companies Act, 2013 or any other law for the time being in force. With the constitution of the NCLT, the Company Law Board (CLB) constituted under the Companies Act, 1956 stands dissolved. The President shall be a person who is or has been a Judge of a High Court for five years. The President of the NCLT will be appointed after consultation with the Chief Justice of India. There are a number of NCLT benches in India and the main bench sits in Delhi.
Topics: Company Law
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