1. National Company Law Tribunal (NCLT)

Jurisdiction:

NCLT has jurisdiction over corporate and company-related matters, including:

• Companies Act, 2013
• Insolvency and Bankruptcy Code (IBC), 2016 (Corporate Insolvency Resolution Process - CIRP)
• Oppression and mismanagement cases
• Reduction of share capital
• Compounding of offenses under the Companies Act

Powers & Functions:

1. Company Law Matters:

   • Incorporation, mergers, demergers, and restructuring
   • Oppression and mismanagement under Section 241-242 of the Companies Act, 2013
   • Winding up of companies
   • Restoration of struck-off companies

2. Insolvency & Bankruptcy Matters:

   • Initiation and adjudication of insolvency proceedings for companies and LLPs
   • Approval of resolution plans under CIRP
   • Liquidation orders and appointment of liquidators
   • Fast-track insolvency resolution processes

3. Class Action Suits:

   • Hearing and adjudicating class action suits filed by shareholders

4. Compounding of Offenses:

   • Power to compound certain offenses under the Companies Act

5. Depositors’ Grievances:

   • Handling cases related to depositors against companies

6. Conversion of Public to Private Companies:

   • Granting approvals for such conversions under the Companies Act

Appealable Orders:

Orders passed by NCLT can be appealed to the NCLAT within 45 days.

2. National Company Law Appellate Tribunal (NCLAT)

Jurisdiction:

NCLAT acts as an appellate authority for:

• Appeals from orders of NCLT under the Companies Act, 2013
• Appeals under the Insolvency and Bankruptcy Code, 2016
• Appeals from orders issued by the Competition Commission of India (CCI)

Powers & Functions:

1. Appellate Authority:

   • Reviewing and adjudicating appeals against NCLT decisions
   • Ensuring due process and compliance with laws

2. Appeals under the IBC:

   • Deciding appeals against resolution plans approved/rejected by NCLT
   • Reviewing liquidation orders and penalty decisions

3. Competition Act Appeals:

   • Hearing appeals against penalties imposed by the CCI for anti-competitive practices

4. Quasi-judicial Powers:

   • NCLAT has powers similar to a civil court, including summoning witnesses, reviewing evidence, and issuing directions

Final Appeal:

Decisions of NCLAT can be further appealed to the Supreme Court of India within 60 days.

Key Differences Between NCLT and NCLAT:

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