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NCLAT Bench to be opened in Chennai
Why in news?
- A Bench of the National Company Law Appellate Tribunal (NCLAT) is being constituted in Chennai to handle matters from the southern States.
- The government has notified the constitution of the Chennai Bench, which will come into effect on March 18.
- The Bench would hear appeals against the orders of the Benches of the National Company Law Tribunal having jurisdiction of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Lakshadweep and Puducherry.
More in news
- About NCLAT:
(1) The National Company Law Appellate Tribunal (NCLAT) is a tribunal which was formed by the Central Government of India under Section 410 of the Companies Act, 2013.
(2) It is responsible for hearing appeals from the orders of National Company Law Tribunal(s) (NCLT), starting on 1 June 2016.
(3) The tribunal also hears appeals from orders issued by the Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC.
(4) It also hears appeals from any direction issued, decision made, or order passed by the Competition Commission of India (CCI).
Sources
The Hindu