National Company Law Tribunal (NCLT)
The National Company Law Tribunal (NCLT) has recently ordered for the winding Up of Devas Multimedia Private Limited.
With reference to the National Company Law Tribunal (NCLT):
- The National Company Law Tribunal (NCLT) is a quasi-judicial body. In India, it gives decisions on issues related to companies.
- It was formed on 1 June 2016 as per the provisions of the Companies Act The National Company Law Tribunal was formed based on the recommendations of the Justice Eradi Committee. This committee was constituted for matters relating to the insolvency and winding up of companies in India.
- It may be noted that an appeal can be made to the National Company Law Appellate Tribunal (NCLAT) against the decisions taken by the NCLT. On any legal point, the NCLAT rulings can be appealed to the Supreme Court.
Source – PIB
