Q. Which of the following statement about National Company Law Tribunal is not correct?

[A] It is a quasi-judicial body constituted under Companies Act, 2013.

[B] The tribunal deals withu00a0matters mainly related to companies law and insolvency law.

[C] Decisions of the NCLT may be appealed to theu00a0National Company Law Appellate Tribunalu00a0(NCLAT), whose decision is final and cannot be further appealed to SC.

[D] It was establishedu00a0based on the recommendation of theu00a0V. BalakrishnaEradiu00a0committee.

Answer: C
Notes:

About NCLT:

  • It is a quasi-judicial body constituted under Section 408 of the Companies Act, 2013 in 2016.
  • It was established based on the recommendation of the  BalakrishnaEradi committeeon the law relating to insolvency and the winding up of companies.

Purpose: The tribunal deals with matters mainly related to companies law and insolvency law.

Term of Members: The Companies Act fixes the term of office of chairperson and members of all NCLTs at five years or 65 years, whichever is earlier.

Appeals: Decisions of the NCLT may be appealed to the National Company Law Appellate Tribunal (NCLAT). The decisions of NCLAT may further be appealed to the Supreme Court of India on a point of law.

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