Come July, the National Company Law Tribunal (NCLT) would have functioned for two full years. The provisions setting up the NCLT were notified on 1 June 2016.
It began functioning on 1 July that year. The NCLT was part of the changes introduced under the Companies Act 2013, as a bid to overhaul the commercial disputes resolution system and doing away with the Company Law Boards, and the Board for Industrial and Financial Reconstruction. After the Insolvency and Bankruptcy Code (IBC) was passed, corporate insolvency cases were also made amenable to the NCLT’s ...
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