National Company Law Tribunal

National Company Law Tribunal (NCLT) is a proposed quasi-judicial body in India that will govern the companies in India.[1] It will be established under the Companies Act, 2013 and is a successor body of the Company Law Board. The principal bench of NCLT is expected to be established in New Delhi. NCLT will have the same powers as assigned to the erstwhile Company Law Board (which are mostly related to dealing with oppression and mismanagement), Board for Industrial and Financial Reconstruction (BIFR)(revival of sick companies) and powers related to winding up of companies (which was available only with the High Courts).[1]

References

  1. 1 2 "NATIONAL COMPANY LAW TRIBUNAL UNDER THE NEW COMPANIES ACT, 2013" (PDF). ASSOCHAM. Retrieved 12 April 2014.
This article is issued from Wikipedia - version of the Tuesday, May 20, 2014. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.