The National Company Law Appellate Tribunal is a tribunal which was formed by the Central Government of India under Section 410 of the Companies Act, 2013. The tribunal is responsible for hearing appeals from the orders of National Company Law Tribunal, starting on 1 June 2016.
What is National Company Law Tribunal (NCLT) ?
NCLT consolidate the corporate jurisdiction of the following: –
- Company Law Board
- Board for Industrial and Financial Reconstruction (BIFR)
- The Appellate Authority for Industrial and Financial Reconstruction
- Jurisdiction and powers relating to winding up restructuring and other such provisions, vested in the High Courts.
Right to legal representation
As per Section 432, A party to any proceeding or appeal before the Tribunal or the Appellate Tribunal, as the case may be, may either appear in person or authorize one or more:-
- Cost accountants; or
- Company secretaries; or,
- Chartered accountants; or,
- Legal practitioners; or,
Any other person like officer of the company
What is National Company Law Appellate Tribunal (NCLAT) ?
National Company Law Appellate Tribunal is new Forum of Quasi Judicial and Have Following Powers:-
- Issue of Direction(s), orders, Summons, Warrants, or other mandatory Process;
- Power to extend time;
- Power to exempt