Law Commission of India vide its 124th Report[1], while highlighting the issues of multiplicity of jurisdictions with High Courts, pendency of cases, multiplicity of stages of appeal/ review/ revision under the Code of Civil Procedure, and need of having specialized bodies to deal with specialized matters, recommended for setting up of specialized Tribunals. This paved way of setting of various Tribunals.
NCLTs were set up under section 408 of the Companies Act, 2013 w.e.f. 01st June 2016. Eleven Benches have been set up with one Principal Bench at New Delhi and ten Benches at New Delhi, Ahmadabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guahati, Hyderabad, Kolkata and Mumbai. NCLT enjoy corporate jurisdiction of the Company Law Board…
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