National Company Law Tribunal: A Constitutional Approach And Corporate Need

Priyanka Gehlot, Symbiosis Law School, Pune

Dhruv Bene, Symbiosis Law School, Pune

ABSTRACT

This Research Paper focuses on the validity and function of the National Company Law Tribunal (NCLT), a quasi-judicial body for deciding and resolving business disputes. The Company Law Board was abolished by the Central Government on June 1, 2016, and all pending cases, issues, and processes were transferred to the NCLT. This essay considers the authority granted, the composition of NCLT members serving on benches around the nation, and also pointed out the important role play by NCLT in corporate dispute and proposals for improving this tribunal. The case of the Madras Bar Association v. Union of India is further thoroughly examined in the paper because it was crucial in the NCLT's founding. It also undertakes a study of the relevant literature. Lastly, it suggested the recommendation and inclusion of mediation process which plays a significant role in speedy disposal of company related matters.