Write a note on National Company Law Tribunal.

National Company Law Tribunal (NCLT) NCLT is a quasi-judicial body exercising equitable jurisdiction which was earlier being exercised by the High Court or the Central Government. It has been established by the Central Government under Section 408 of the Companies Act, 2013 with effect from 1st June, 2016. The establishment of the NCLT consolidates the corporate jurisdiction of the following authorities: Authority for Industrial and Financial Reconstruction Company Law Board Jurisdiction and powers relating to winding up, restructuring and other such provisions vested in the High Courts. The Tribunal has powers to regulate its own procedures. Any person aggrieved by an order of the NCLT may prefer an appeal to National Company Law Appellate Tribunal (NCLAT).