National Company Law Appellate Tribunal

Table of Contents☰

About National Company Law Appellate Tribunal (NCLAT):

It was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of the National Company Law Tribunal(s) (NCLT), with effect from 1st June 2016.
Functions:
- Hearing appeals against the orders passed by NCLT(s) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC).
- To hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India (CCI).
- It also hears and disposes of appeals against the orders of the National Financial Reporting Authority.

The Competition Commission of India (CCI) was established in March 2009 by the Government of India under the Competition Act, 2002 for the administration, implementation, and enforcement of the Act.
It is a quasi-judicial body which gives opinions to statutory authorities and also deals with other cases.
Composition of the CCI
- The Commission consists of one Chairperson and six Members who shall be appointed by the Central Government.
- The Chairperson and other Members shall be whole-time Members
Objectives of this commission:
- It will eliminate practices having adverse effects on competition.
- To Promote and sustain competition.
- It helps in protecting the interests of consumers.
- Ensuring freedom of trade in the markets of India.