TheNational Company Law Tribunal (NCLT) is aquasi-judicial body in India that adjudicates issues relating toIndian companies.^[1] The tribunal, established under theCompanies Act 2013, was constituted on 1 June 2016 by the government of India and is based on the recommendation of theV. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies.^[2]

All proceedings under the Companies Act, including proceedings relating toarbitration,compromise, arrangements, reconstructions and winding up of companies, are to be before the NCLT. The NCLT bench is chaired by a Judicial member, who is to be a serving or retired High Court Judge, and a Technical member, who must be from theIndian Corporate Law Service (ICLS) cadre.

The National Company Law Tribunal is the adjudicating authority for theinsolvency resolution process of companies andlimited liability partnerships under theInsolvency and Bankruptcy Code, 2016.

No criminal court shall havejurisdiction to entertain any suit or proceeding in respect of any matter which the Tribunal or the Appellate Tribunal is empowered to determine by or under this Act or any other law for the time being in force and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or any other law for the time being in force, by the Tribunal or the Appellate Tribunal.

The tribunal has sixteen benches, six atNew Delhi (one being the principal bench) and two atAhmedabad, one atPrayagraj, one atBengaluru, one atChandigarh, two atChennai, one at Cuttack, one atGuwahati, three atHyderabad of which one is atAmaravathi,^[3] one atJaipur, one atKochi, two atKolkata and five atMumbai.^[4] Of the two new benches approved to be set up, one each inIndore^[5] andAmaravathi,^[5] the Indore bench is yet to be notified. Except the Bench at Amaravati, all the benches have been notified as division benches. JusticeR. Sudhakar, a retired Chief Justice of Manipur High Court has been appointed as president of the tribunal since 1 November 2021.^[1]

The National Company Law Tribunal has the power under the Companies Act to adjudicate proceedings:

1. Initiated before theCompany Law Board under the previous act (theCompanies Act 1956);
2. Pending before theBoard for Industrial and Financial Reconstruction, including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985;
3. Pending before the Appellate Authority for Industrial and Financial Reconstruction; and
4. Pertaining to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.

Following is the list of Hon'ble President and Sitting Members:^[6]

Decisions of the tribunal may be appealed to theNational Company Law Appellate Tribunal, the decisions of which may further be appealed to theSupreme Court of India on a point of law. The Supreme Court of India has upheld theInsolvency and Bankruptcy Code in its entirety.^[8]

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