National Company Law Tribunal

The National Company Law Tribunal is a quasi-judicial body that addresses all matters related to companies in India. After the establishment of the NCLT, the jurisdiction of all company matters, including claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act was transferred to the tribunal.

The NCLT is the Adjudicating Authority on all matters and should there be an appeal process, it is then taken to NCLAT or National Company Law Appellate Tribunal.

Debt Recovery Tribunals

Debt Recovery Tribunals are special types of courts which have been set up by Ministry of Finance exclusively for recovery of non-performing assets or overdues of banks and other financial institutions. These have been set-up as tribunals as quasi-judicial bodies with the purpose of fast track disposal of cases referred to such tribunals.

For insolvency and bankruptcy related matters, the following is where

  1. Filing of Application with NCLT/DRT for initiation of Insolvency Process
  2. Appearing before the Court for hearings
  3. Follow-up with NCLT/DRT for pending cases
  4. Drafting of Applications and petitions to be submitted in NCLT/DRT
  5. Advising on the preparation of Information Memorandum and Statement of Affairs under the Code
  6. Offers a finite time limit within which the debtor’s viability can be assessed
  7. Assisting in appointing the Registered Valuers and other Professionals in order to complete the insolvency process.
  8. Guiding the Company on how to appear before the court

National Company Law Appellate Tribunal

National Company Law Appellate Tribunal (NCLAT) was constituted under Section 410 of the Companies Act, 2013 for hearing appeals against the orders of National Company Law Tribunal(s) (NCLT), with effect from 1st June, 2016.

NCLAT is also the Appellate Tribunal for hearing appeals against the orders passed by NCLT(s) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC)

Debts Recovery Appellate Tribunal

Under Section 8 of the Recovery of Debts and Bankruptcy Act, 1993, the Central Government has established the Debts Recovery Appellate Tribunal to exercise the jurisdiction, powers and authority conferred under this Act.

Under Section 20, any person aggrieved by an order, can appeal Appellate Tribunal with jurisdiction in this matter.