Author: Shivam Chaturvedi, Student at Amity University, Lucknow
Co–Author: Syed Momin Hussain, Student at Amity University, Lucknow
INTRODUCTION
The National Company Law Appellate Tribunal and National Company Law Tribunal were established by the Central Government on June 1, 2016. In the month of June, NCLT started operations in Delhi and other metro areas localities over the long month of July. The first-class activity suit has been recorded in Mumbai, and as a result, NCLT operations have begun. Through the methods used in this document, the authors try to evaluate the idea, character, and scope of the National Company Law Tribunal’s forces.
The Hon’ble Supreme Court of India first mentioned the request for a particular tribunal in its 1987 ruling in S.P. Sampath Kumar v. Union of India. The court accepted the option institutional component hypothesis and held that since independence, the population of the country has continued to grow, and as a result, discussions that are subject to the courts’ constant scrutiny have also grown, placing more pressure on the court to address the issues. In addition, the report presented by the Shah Committee in relation to a particular tribunal stated that, in view of the overwhelming number of cases under the constant watch of the courts, it is imperative to alter the legislation in relation to the establishment of an independent tribunal.
The Law Commission of India’s 124th Report, which was published in 1988, expressed the view that as time has gone on, various fields of law have been created, and as a result, several types of debate have also taken place. This is the main cause of case excesses, so on sincere grounds, it is necessary to establish an independent tribunal. In this vein, the council has now deemed it vital to establish a particular tribunal in light of the formation of the National Green Tribunal for handling cases of condition and the Central Administrative Tribunal for handling administrative concerns.
