Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has virtually inaugurated the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT). This will be the second NCLAT Bench in the country, after the Principal Bench in New Delhi.
About the National Company Law Appellate Tribunal:
- The NCLAT has jurisdiction over matters under the Companies Act, the Insolvency and Bankruptcy Code and the Competition Commission of India.
- Fresh appeals against 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 will have to be filed before the Chennai Bench.
- Justice Bansi Lal Bhat, acting 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, were present.