{"id":14035,"date":"2025-05-13T12:01:58","date_gmt":"2025-05-13T06:31:58","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=14035"},"modified":"2025-05-27T14:30:12","modified_gmt":"2025-05-27T09:00:12","slug":"what-is-the-national-company-law-appellate-tribunal-nclat","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/what-is-the-national-company-law-appellate-tribunal-nclat\/","title":{"rendered":"National Company Law Appellate Tribunal (NCLAT)"},"content":{"rendered":"<h2>National Company Law Appellate Tribunal (NCLAT) Latest News<\/h2>\n<p>The National Company Law Appellate Tribunal (NCLAT) dismissed an insolvency petition filed by SNJ Synthetics against PepsiCo India Holdings, asserting that the Insolvency and Bankruptcy Code (IBC) cannot be used as a tool for debt recovery where only disputed interest claims are involved.<\/p>\n<h2>About the National Company Law Appellate Tribunal (NCLAT)<\/h2>\n<ul>\n<li>The\u00a0<strong>NCLAT<\/strong>\u00a0is a\u00a0<strong>quasi-judicial body<\/strong>\u00a0constituted under\u00a0<strong>Section 410 of the Companies Act, 2013<\/strong>. It was established to\u00a0<strong>hear appeals<\/strong>\u00a0against the decisions of the\u00a0<strong>National Company Law Tribunal (NCLT)<\/strong>, functioning since\u00a0<strong>1st June 2016<\/strong>.<\/li>\n<li>Its main objective is to\u00a0<strong>promote timely corporate dispute resolution<\/strong>, ensure\u00a0<strong>transparency<\/strong>, and improve\u00a0<strong>efficiency in insolvency and corporate governance matters<\/strong>.<\/li>\n<li><strong>Functions of NCLAT include<\/strong>:\n<ul>\n<li>Hearing appeals against orders of\u00a0<strong>NCLT<\/strong>\u00a0under\u00a0<strong>Section 61 of IBC<\/strong>.<\/li>\n<li>Hearing appeals against orders of the\u00a0<strong>Insolvency and Bankruptcy Board of India (IBBI)<\/strong>\u00a0under\u00a0<strong>Sections 202 and 211 of IBC<\/strong>.<\/li>\n<li>Hearing appeals against orders of the\u00a0<strong>Competition Commission of India (CCI)<\/strong>.<\/li>\n<li>Hearing appeals related to the\u00a0<strong>National Financial Reporting Authority (NFRA)<\/strong>.<\/li>\n<li>Giving\u00a0<strong>advisory opinions<\/strong>\u00a0when legal issues are referred by the\u00a0<strong>President of India<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Headquarters<\/strong>: Located in\u00a0<strong>New Delhi<\/strong>.<\/li>\n<li><strong>Composition<\/strong>: It includes a\u00a0<strong>Chairperson<\/strong>, along with\u00a0<strong>Judicial and Technical Members<\/strong>, all appointed by the\u00a0<strong>Central Government<\/strong>\u00a0based on expertise in\u00a0<strong>law, finance, accountancy, and administration<\/strong>.<\/li>\n<li><strong>Powers and Procedure<\/strong>:\n<ul>\n<li>NCLAT can\u00a0<strong>regulate its own procedure<\/strong>\u00a0and possesses powers equivalent to a\u00a0<strong>civil court<\/strong>\u00a0under the\u00a0<strong>Civil Procedure Code, 1908<\/strong>.<\/li>\n<li>It can summon witnesses, receive affidavits, enforce production of documents, and issue commissions.<\/li>\n<li>Orders passed by NCLAT are\u00a0<strong>enforceable like civil court decrees<\/strong>.<\/li>\n<li>Appeals against NCLAT orders can be filed in the\u00a0<strong>Supreme Court of India<\/strong>.<\/li>\n<li>Civil courts have\u00a0<strong>no jurisdiction<\/strong>\u00a0over matters within the purview of NCLAT.<\/li>\n<li>No court or authority can\u00a0<strong>grant injunctions<\/strong>\u00a0against any action taken by NCLAT under its legal authority.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Timely disposal<\/strong>: NCLAT is required to\u00a0<strong>dispose of appeals within six months<\/strong>\u00a0from the date of receipt to ensure swift resolution.<\/li>\n<\/ul>\n<h2>National Company Law Appellate Tribunal (NCLAT) FAQs<\/h2>\n<p><strong>Q1:\u00a0<\/strong>What is the NCLAT?<br \/>\n<strong>Ans:<\/strong>\u00a0The NCLAT is a quasi-judicial appellate tribunal in India that hears appeals against orders passed by NCLT, IBBI, and the Competition Commission of India (CCI).<\/p>\n<p><strong>Q2:\u00a0<\/strong>Under which Act was NCLAT established?<br \/>\n<strong>Ans:<\/strong>\u00a0NCLAT was constituted under Section 410 of the Companies Act, 2013.<\/p>\n<p><strong>Q3:\u00a0<\/strong>What is the difference between NCLT and NCLAT?<br \/>\n<strong>Ans:<\/strong>\u00a0NCLT is the trial-level tribunal, while NCLAT is the appellate authority to review decisions of the NCLT.<\/p>\n<p><strong>Source:\u00a0<\/strong><a href=\"https:\/\/www.thehindu.com\/business\/Industry\/nclat-dismisses-insolvency-plea-against-pepsico-india\/article69568929.ece\" target=\"_blank\" rel=\"nofollow noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NCLAT, formed under Section 410 of the Companies Act 2013, hears appeals against NCLT decisions and has been active since 1st June 2016.<\/p>\n","protected":false},"author":5,"featured_media":47859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[495,21,23],"class_list":{"0":"post-14035","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-national-company-law-appellate-tribunal-nclat","9":"tag-prelims-pointers","10":"tag-upsc-prelims-current-affairs","11":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=14035"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/14035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/47859"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=14035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=14035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=14035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}