The government has notified the setting up of the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT).
“This comes into effect from June 1,” said a statement from the Ministry of Corporate Affairs. Former Supreme Court Judge SJ Mukhopadhaya has joined as Chairperson of the NCLAT and former Chief Justice Jammu and Kashmir High Court MM Kumar has joined as the President of the NCLT.
“With the constitution of the NCLT, the Company Law Board constituted under the Companies Act, 1956 stands dissolved,” said the release. Initially, NCLT will have 11 Benches, two at New Delhi and one each at Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata and Mumbai, it added.