National Company Law Appellate Tribunal (NCLAT)
Context: The Supreme Court ruled completely in favour of multi-billion salt-to-software conglomerate Tata Sons Private Ltd. by setting aside a National Company Law Appellate Tribunal (NCLAT) decision to reinstate minority shareholder Shapoorji Pallonji group’s scion, Cyrus Mistry, as its executive chairman.
- 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.
- The tribunal is responsible for hearing appeals from the orders of National Company Law Tribunal(s) (NCLT), starting on 1 June 2016.
- The tribunal also hears appeals from orders issued by the Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC.
- It also hears appeals from any direction issued, decision made, or order passed by the Competition Commission of India (CCI).