Procedure as per Civil Procedure Code, 1908 need not be followed while trying Petitions, applications or appeals by National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) – Do you agree?

Yes, I agree with the statement. In terms of Section 424 of the Companies Act, 2013, neither the National Company Law Tribunal (NCLT) nor National Company Law Appellate Tribunal (NCLAT) is bound by the procedure as stated in Civil Procedure Code, 1908 in disposing any proceeding before it either under the Companies Act, 2013 or Insolvency and Bankruptcy Code, 2016 but shall be guided by the principle of natural justice. NCLT or NCLAT has the power to regulate their own procedure. Any orders passed may be enforced like a decree and can be enforced by the Court having jurisdiction to execute. Further, Section 424(2) enlists similar powers of a Civil Court such as summoning, documents discovery, receiving affidavits, requisitioning any public document, examining witnesses etc.