“NCLT: The Pillar of Corporate Justice & Dispute Resolution”
The National Company Law Tribunal (NCLT) is a crucial institution in India's legal framework, providing a robust mechanism for addressing corporate disputes and ensuring smooth resolution of business-related matters. As the judicial body overseeing corporate law, the NCLT plays an instrumental role in promoting corporate governance, insolvency proceedings, and protecting stakeholders' interests. This article explores the functions, importance, and impact of the NCLT in India's corporate landscape. 1. Introduction to NCLT The National Company Law Tribunal (NCLT) was established in 2016 under the Companies Act, 2013 to resolve corporate disputes, monitor insolvency proceedings, and ensure compliance with the provisions of corporate law. The NCLT replaced the Company Law Board (CLB) and streamlined the resolution of business-related disputes to create a more efficient, specialized adjudicating authority. The tribunal operates under the…