Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has nearly inaugurated the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT). This would be the second NCLAT Bench within the nation, after the Principal Bench in New Delhi.
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About the National Company Law Appellate Tribunal:
- The NCLAT has jurisdiction over issues underneath the Companies Act, the Insolvency and Bankruptcy Code and the Competition Commission of India.
- Fresh appeals towards the orders of the Benches of the tribunal having jurisdiction in Karnataka, Tamil Nadu, Kerala, Andhra Pradesh and Telangana and the Union Territories of Lakshadweep and Puducherry should be filed earlier than the Chennai Bench.
- Justice Bansi Lal Bhat, appearing Chairperson, NCLAT; Rajesh Verma, Secretary, Ministry of Corporate Affairs; and Justice Venugopal M, judicial member, and Balvinder Singh, technical member of the NCLAT Chennai Bench, had been current.
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