Best IAS/PCS Coaching in Lucknow

Current Affairs

Prepare IAS Coaching

Current Affairs

Title : National Creditors' Litigation Tribunal (NCLT)

Date : Jan 17, 2022

Description :



Topic à Statutory and Non-Statutory Bodies


  • About:


  • The Companies Act of 2013 was used to form the company.


  • Functions:


  • It hears appeals from the following orders:
  • The National Creditors' Litigation Tribunal (NCLT) was established in 2016 under Section 61 of the Insolvency and Bankruptcy Code (IBC).
  • Sections 202 and 211 of the Insolvency and Bankruptcy Code (IBC) are used by the Insolvency and Bankruptcy Board of India.
  • India's Competition Commission (CCI).


  • Composition:


  • After consultation with the Chief Justice of India, the President of the Tribunal, as well as the chairperson and judicial members of the Appellate Tribunal, will be chosen.


  • The Tribunal Members and Technical Members will be nominated based on the recommendations of a Selection Committee that includes:


  • Chairman: Chief Justice of India or his nominee.
  • Member: a senior Supreme Court judge or a Chief Justice of the High Court.
  • Member of the Ministry of Corporate Affairs' Secretariat.
  • Member of the Ministry of Law and Justice's Secretary.
  • Member of the Ministry of Finance's Department of Financial Services Secretary.


  • Eligibility:


  • Chairperson — Must be or have been a Supreme Court judge or the Chief Justice of the High Court.
  • Judicial Member - Is or has been a High Court judge or a judicial member of a tribunal for at least 5 years.
  • Technical member– A person of demonstrated skill, honesty, and standing who has at least 25 years of special knowledge and expertise (in specified areas).


  • Term:


  • The chairperson and members have a 5-year term of office and can be reappointed for another 5-year term.


  • Source à The Hindu

Tags : company law, law tribunal

Subscribe Daily newsletter