National Company Law Appellate Tribunal

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Overview:

Recently, the National Company Law Appellate Tribunal (NCLAT) upheld the ₹1,337 crore fines imposed on Google by the Competition Commission of India (CCI).

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.

Key facts about the Competition Commission of India (CCI) 

  • 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.

 


Q1) What is the aim of IBC?

It aims to reorganise and resolve the insolvency of corporations, individuals, and partnerships in a time-bound manner.

Source: NCLAT upholds penalty on Google; sets aside certain directions issued by CCI