NCLT - National Company Law Tribunal

The National Company Law Tribunal (NCLT) is a quasi-judicial body constituted under Section 408 of the Companies Act, 2013, and made operational on 1 June 2016. It is the primary forum for adjudicating company-law and corporate-insolvency disputes in India, consolidating powers that were earlier split across several bodies. On formation it replaced the Company Law Board (CLB) and absorbed the jurisdiction of the Board for Industrial and Financial Reconstruction (BIFR), its appellate body AAIFR, and the winding-up powers previously exercised by the High Courts.

What it handles

• Oppression and mismanagement of a company (Sections 241-242 of the Companies Act, 2013).
• Class action suits by members or depositors (Section 245).
• Schemes of compromise, arrangement, merger and amalgamation (Sections 230-232).
• Winding up of companies (Section 271 onward) and reduction of share capital.
• Corporate insolvency, where NCLT is the "Adjudicating Authority" for companies and LLPs under Section 60 of the Insolvency and Bankruptcy Code, 2016.

Structure and appeals

The NCLT works through a Principal Bench in New Delhi and several benches across India, each staffed by judicial and technical members. Orders can be challenged before the National Company Law Appellate Tribunal (NCLAT), constituted under Section 410, generally within 45 days. A further appeal lies to the Supreme Court, but only on a question of law.

Why it matters

By bringing company disputes, restructuring and insolvency under one specialised tribunal, NCLT gives businesses a single, time-bound route instead of scattered forums. For promoters and creditors alike, it is the venue where insolvency resolution under the IBC and most contested corporate actions are decided.