Companies Act Section 2(4) Appellate Tribunal

Understanding the Appellate Tribunal under the Companies Act, 2013

Appellate Tribunal Section 2(4)

The term "Appellate Tribunal" refers to a tribunal constituted by the Central Government under Section 410 of the Companies Act, 2013. This tribunal is known as the National Company Law Appellate Tribunal (NCLAT). It serves as the appellate authority for appeals against orders passed by the National Company Law Tribunal (NCLT).

Key Features and Functions:

1. Appeals: NCLAT hears appeals against orders passed by NCLT concerning company law matters under the Companies Act, 2013. 

This includes matters related to mergers and amalgamations, corporate governance issues, insolvency proceedings, and other company law disputes.

2. Composition: The Appellate Tribunal is composed of a Chairperson and such number of Judicial and Technical Members as may be prescribed. 

The qualifications and terms of service of these members are also prescribed by the Central Government.

3. Powers: NCLAT has powers similar to those of a civil court while trying a suit under the Code of Civil Procedure, 1908. 

It can regulate its own procedure and has the authority to summon and enforce the attendance of witnesses, compel the discovery and production of documents, and examine witnesses on oath.

4. Jurisdiction: NCLAT exercises jurisdiction over appeals from NCLT benches across India. 

It ensures uniformity and consistency in the interpretation and application of company law principles.

5. Decisions: The decisions of NCLAT are final, subject to certain exceptions where appeals may be filed before the Supreme Court of India on points of law.

Importance:

Specialized Tribunal: NCLAT is a specialized appellate tribunal dedicated to resolving complex company law disputes and ensuring justice in corporate matters.  

Speedy Resolution: It facilitates expeditious resolution of appeals, promoting efficiency and reducing litigation delays in corporate matters.

Expertise: With its judicial and technical members, NCLAT brings specialized knowledge and expertise to the adjudication of company law disputes.