SECTION 419 BENCHES OF TRIBUNALS
Updated: Oct 18, 2022
The Tribunal (National Company Law Tribunal- NCLT is a quasi-judicial body that is authorized to deal with the corporate disputes which are civil and arising under the Companies Act) shall be divided into such number of Benches as the Central Government may specify by notification.
The Principal Bench of the NCLT will be located in New Delhi and will be presided over by the President of the NCLT.
The NCLT’s power is exercised by Benches consisting of two members, one of whom is a Judicial Member and the other a Technical Member.
Provided, however, that the Members of the NCLT thus authorized shall be competent to act as a single Judicial Member and execute the NCLT's powers in respect of such class of cases or matters relevant to such class of cases as the President may define by general or special order:
Provided, further, that if a Member believes, at any time during the hearing of any such case or matter, that the case or matter is of such a nature that a Bench should hear of two Members, the case or matter may be transferred by the President, or referred to him for transfer, to such Bench as the President may deem fit.
By notification, the Central Government shall create as many NCLT benches as it deems necessary to execute the Adjudicating Authority's jurisdiction, powers, and authority conferred on such NCLT by or under Part II of the Insolvency and Bankruptcy Code, 2016.
Suppose the Members of a Bench disagree on any point or points. In that case, the case shall be referred to the President for hearing on such point or points by one or more other members of the NCLT, and such point or points shall be decided according to the opinion of the majority of Members who have expressed an opinion.
What is National Company Law Tribunal?
It is a quasi-judicial body that is authorized to deal with the corporate disputes which are civil and arising under the Companies Act
.The current President of NCLT is Chief Justice (Retd.) Ramalingam Sudhakar.
The Tribunal will handle all Companies Act actions, including arbitration, agreements, compromises, reconstruction, and corporate wound-up.
Not a single civil court will have jurisdiction over the before-mentioned matters.
The cases which are pending before the (BIFR) Board for Industrial and Financial Reconstruction, as well as those pending under the Sick Industrial Companies (Special Provisions) Act, 1985, might be heard by the NCLT.
Also, matters pending before the Appellate Authority for Industrial and Financial Reconstruction will be taken up.
It can also take on matters involving corporate oppression and mismanagement.
Benches of National Law Tribunal-
Principle Bench i.e., New Delhi