Daily News Analysis

National Company Law Appellate Tribunal (NCLAT)  

28th March, 2021 Polity

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.

 

About NCLAT:

  • 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).

 

https://www.thehindu.com/todays-paper/sc-backs-tata-sons-sets-aside-nclat-order-on-mistry/article34174538.ece