NCLT – National Company Law Tribunal

The National Company Law Tribunal (NCLT) is a quasi-judicial body established under Section 408 of the Companies Act, 2013. It was officially constituted on 1st June 2016 and serves as the primary adjudicating authority for all company-related disputes and insolvency matters in India. NCLT replaced the erstwhile Company Law Board (CLB), the Board for Industrial and Financial Reconstruction (BIFR), and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR).

As of 2026, NCLT plays an indispensable role in corporate governance, resolving disputes between shareholders and companies, adjudicating insolvency and bankruptcy matters under the Insolvency and Bankruptcy Code (IBC), 2016, and overseeing mergers, amalgamations, and restructuring of companies in India.

This comprehensive guide covers everything you need to know about NCLT – its establishment, jurisdiction, bench structure, powers, filing procedures, fees, important case laws, and the appeal process for 2026.

Legal Framework and Establishment of NCLT

Governing Legislation

NCLT draws its authority from the following legislative instruments:

• Companies Act, 2013 – Sections 408 to 434
• Insolvency and Bankruptcy Code (IBC), 2016
• National Company Law Tribunal Rules, 2016
• Companies (Amendment) Acts of 2017, 2019, 2020, and 2024
• Limited Liability Partnership Act, 2008 (for LLP insolvency)

Historical Background

The concept of a specialised tribunal for company law disputes was recommended by the Eradi Committee in 2000. The Companies Act, 2013 formally established NCLT, but it became operational only on 1st June 2016. Its establishment unified multiple fragmented forums under one roof, ensuring speedier justice and domain expertise in corporate law.

Key Milestones

1. 2000 – Eradi Committee recommends specialised tribunal
2. 2013 – Companies Act, 2013 enacted; NCLT established under Section 408
3. 2016 – NCLT becomes operational on 1st June 2016
4. 2016 – IBC enacted; NCLT designated as Adjudicating Authority
5. 2020 – Companies (Amendment) Act strengthens NCLT powers
6. 2024 – Further amendments streamline procedures and timelines
7. 2026 – 16 operational benches across India

Structure and Composition of NCLT

Principal Bench

The Principal Bench of NCLT is located in New Delhi. It is presided over by the President of NCLT, who must be a retired or sitting Judge of a High Court. The President exercises administrative and judicial control over all NCLT benches across India.

NCLT Benches in India – 2026

As of 2026, NCLT operates through 16 benches across major cities in India. Below is the list:

S.No	NCLT Bench Location	States/UTs Covered
1	New Delhi (Principal Bench)	Delhi, Haryana, Punjab, HP, J&K, Ladakh
2	Mumbai	Maharashtra, Goa, Dadra & Nagar Haveli
3	Kolkata	West Bengal, Odisha, Sikkim, Andaman & Nicobar
4	Chennai	Tamil Nadu, Puducherry
5	Allahabad	Uttar Pradesh, Uttarakhand
6	Ahmedabad	Gujarat, Rajasthan
7	Hyderabad	Telangana
8	Bengaluru	Karnataka
9	Chandigarh	Punjab, Haryana, Himachal Pradesh
10	Guwahati	Assam, Meghalaya, Arunachal Pradesh, Nagaland, Mizoram, Tripura, Manipur
11	Jaipur	Rajasthan
12	Kochi	Kerala, Lakshadweep
13	Amravati	Andhra Pradesh
14	Cuttack	Odisha
15	Indore	Madhya Pradesh, Chhattisgarh
16	Agartala	Tripura

Composition of Each Bench

Each NCLT bench comprises:

• One Judicial Member (who must be a retired or sitting High Court Judge or an advocate of at least 10 years’ standing in Company Law)
• One Technical Member (who must be a person of proven expertise in accountancy, industry, banking, finance, law or administration for at least 15 years)

The President of NCLT must be a person who has been a Judge of a High Court.

Jurisdiction of NCLT – What Cases Does It Handle?

Original Jurisdiction

NCLT has original jurisdiction to hear and decide on:

• Oppression and mismanagement cases (Sections 241-244, Companies Act 2013)
• Winding up of companies (Sections 270-365, Companies Act 2013)
• Reduction of share capital
• Class action suits by shareholders and depositors
• Conversion of public company to private company
• Removal of company name from Registrar of Companies
• Rectification of register of members
• Revival and rehabilitation of sick companies
• Corporate Insolvency Resolution Process (CIRP) under IBC 2016

Jurisdiction under Insolvency and Bankruptcy Code (IBC), 2016

NCLT is the Adjudicating Authority under IBC for corporate persons including companies and LLPs. It handles:

• Admission of insolvency applications by Financial Creditors (Section 7, IBC)
• Admission of insolvency applications by Operational Creditors (Section 9, IBC)
• Admission of voluntary insolvency by Corporate Debtor (Section 10, IBC)
• Liquidation orders for corporate persons
• Approval of Resolution Plans submitted by Resolution Applicants
• Avoidance transactions (preferential, undervalued, fraudulent transactions)
• Applications against personal guarantors of corporate debtors

Jurisdiction for Mergers & Amalgamations

Under Sections 230 to 240 of the Companies Act, 2013, NCLT has the power to:

• Approve schemes of compromise or arrangement between a company and its creditors or shareholders
• Sanction mergers and amalgamations between Indian companies
• Approve demergers and corporate restructuring
• Order cross-border mergers (Section 234, Companies Act 2013)

What NCLT Does NOT Handle

It is equally important to understand the limitations of NCLT’s jurisdiction:

• NCLT does not handle criminal matters – those go to courts under the Companies Act
• Personal insolvency of individuals (other than personal guarantors) – handled by Debt Recovery Tribunals (DRT)
• Tax matters – handled by Income Tax Appellate Tribunal (ITAT) and GST Appellate Authorities
• Labour law disputes – handled by Labour Courts and Industrial Tribunals

Corporate Insolvency Resolution Process (CIRP) – Step-by-Step

Who Can Initiate CIRP?

Under IBC 2016, the following parties can initiate insolvency proceedings before NCLT:

• Financial Creditor (Section 7) – Banks, NBFCs, debenture holders, any party with a financial debt
• Operational Creditor (Section 9) – Suppliers, employees, workmen, service providers
• Corporate Debtor itself (Section 10) – Voluntary insolvency

Minimum Default Threshold

As per the latest amendment (effective 2020 and continued in 2026), the minimum default amount required to file insolvency application is:

• For financial creditors and operational creditors: Rs. 1 Crore (increased from Rs. 1 Lakh by COVID-era amendment, retained as of 2026)
• For MSME sector: Special provisions apply under Section 240A of IBC

Step-by-Step CIRP Process

8. Step 1 – Filing of Application: Financial Creditor files under Section 7 or Operational Creditor files under Section 9 of IBC before the relevant NCLT bench
9. Step 2 – Admission or Rejection: NCLT must admit or reject the application within 14 days (as per IBC; though in practice this can take longer)
10. Step 3 – Appointment of IRP: Upon admission, NCLT appoints an Interim Resolution Professional (IRP) registered with IBBI
11. Step 4 – Moratorium: NCLT declares a moratorium period under Section 14 of IBC – all legal proceedings against the corporate debtor are frozen
12. Step 5 – Public Announcement: IRP makes a public announcement inviting claims from creditors
13. Step 6 – Constitution of CoC: Committee of Creditors (CoC) is constituted, comprising all financial creditors
14. Step 7 – Replacement of IRP: CoC may replace IRP with Resolution Professional (RP) within 30 days
15. Step 8 – Information Memorandum: RP prepares an Information Memorandum about the corporate debtor
16. Step 9 – Resolution Plans: Resolution Applicants submit resolution plans to the RP
17. Step 10 – CoC Approval: CoC approves the resolution plan with a minimum of 66% vote
18. Step 11 – NCLT Approval: NCLT approves or rejects the resolution plan
19. Step 12 – Implementation: If approved, the resolution plan is implemented; if no plan is approved within the timeline, NCLT orders liquidation

CIRP Timeline

Under IBC 2016, CIRP must be completed within:

• 180 days from the date of admission of insolvency application
• Extension of up to 90 days may be granted by NCLT (total: 270 days)
• Mandatory liquidation if no resolution plan approved within 330 days (as per 2019 amendment)

Oppression and Mismanagement – NCLT’s Role

Understanding Oppression and Mismanagement

Sections 241-244 of the Companies Act, 2013 empower NCLT to hear complaints of oppression and mismanagement in a company. This is one of the most significant remedies available to minority shareholders in India.

Who Can File?

• In case of a company with share capital: At least 100 members OR members holding at least 1/10th of total issued share capital
• In case of a company without share capital: At least 1/5th of the total number of members
• Any individual member with prior leave of NCLT
• Central Government, if it is of the opinion that affairs are being conducted in a manner prejudicial to public interest

Reliefs Available

NCLT can grant the following reliefs in oppression and mismanagement cases:

• Regulation of the conduct of company’s affairs in future
• Purchase of shares or interests by other members or the company
• Restrictions on transfer of shares
• Termination, setting aside, or modification of any agreement
• Removal of the Managing Director, Director, or Manager
• Winding up of the company (as last resort)

NCLT Filing Process – How to File a Case in 2026

Step-by-Step Filing Guide

20. Step 1 – Identify Correct Bench: Determine the NCLT bench having territorial jurisdiction over the company’s registered office
21. Step 2 – Prepare the Petition/Application: Draft the petition with all necessary details, supporting documents, affidavits, and annexures
22. Step 3 – Pay Filing Fees: Pay the requisite court fee as per NCLT Rules, 2016 (Schedule of Fees)
23. Step 4 – File Online: Filing is done through the NCLT e-filing portal at www.nclt.gov.in
24. Step 5 – Physical Submission: Hard copies of the petition along with the e-filing receipt are submitted at the Registry of the respective NCLT bench
25. Step 6 – Scrutiny by Registry: The Registry scrutinises the petition for compliance with NCLT Rules
26. Step 7 – Listing Before Bench: The petition is listed before the bench for admission hearing
27. Step 8 – Service of Notice: Upon hearing, NCLT issues notice to the opposite party
28. Step 9 – Reply and Rejoinder: Opposite party files a reply; petitioner may file a rejoinder
29. Step 10 – Final Hearing and Order: Arguments are heard and order is passed

Documents Required for Filing

• Certified copy of the company’s Certificate of Incorporation
• Memorandum of Association (MoA) and Articles of Association (AoA)
• Latest audited financial statements
• Board resolutions (wherever applicable)
• Affidavit verifying the petition
• Index of documents
• Vakalatnama (Power of Attorney in favour of advocate)
• Identity proof of petitioner
• Any other documents specific to the nature of the petition

NCLT Court Fees – Schedule for 2026

The fee structure for filing matters before NCLT is prescribed under Schedule of Fees in the National Company Law Tribunal Rules, 2016. Below is a summary of key fees as applicable in 2026:

Nature of Matter	Fee (in Indian Rupees)
Insolvency Application (Section 7 / Section 9)	Rs. 25,000 per application
Oppression & Mismanagement Petition	Rs. 5,000 per petition
Petition for Winding Up	Rs. 5,000 to Rs. 10,000 (depending on paid-up capital)
Application for Scheme of Compromise/Arrangement	Rs. 5,000
Application for Merger/Amalgamation (Section 230-232)	Rs. 5,000 to Rs. 30,000
Class Action Suit (Section 245)	Rs. 1,000 per applicant
Miscellaneous Application/Interlocutory Application	Rs. 500 to Rs. 2,500
Appeal under Companies Act, 2013	Rs. 2,500
Caveat Application	Rs. 500
Certified Copy of Order	Rs. 5 per page (minimum Rs. 50)

Note: Fees are subject to revision by the Ministry of Corporate Affairs (MCA). Always verify current fees on the official NCLT website (www.nclt.gov.in) or MCA portal (www.mca.gov.in) before filing.

NCLAT – National Company Law Appellate Tribunal

What is NCLAT?

The National Company Law Appellate Tribunal (NCLAT) is the appellate forum for orders passed by NCLT. It was established under Section 410 of the Companies Act, 2013 and is located in New Delhi. As of 2026, there is also a Chennai Circuit Bench of NCLAT for petitioners from southern India.

Jurisdiction of NCLAT

• Appeals against orders of NCLT under the Companies Act, 2013
• Appeals against orders of NCLT under IBC, 2016
• Appeals against orders of Insolvency and Bankruptcy Board of India (IBBI)
• Appeals against orders of the Competition Commission of India (CCI)

Appeal Timeline

• Appeals under Companies Act, 2013: Must be filed within 45 days of receipt of the NCLT order
• Appeals under IBC, 2016: Must be filed within 30 days of receipt of the NCLT order
• NCLAT must dispose of the appeal within 3 months from the date of filing

Further Appeal – Supreme Court of India

Orders of NCLAT can be challenged before the Supreme Court of India under Section 423 of the Companies Act, 2013. The Supreme Court is the final authority for company law matters in India.

Important Landmark Judgements Related to NCLT (2016–2026)

1. Essar Steel India Ltd. v. Satish Kumar Gupta (Supreme Court, 2019)

The Supreme Court held that the NCLT-approved resolution plan is binding on all creditors, including those who did not participate in the CoC. The judgement clarified that the 330-day timeline for CIRP must ordinarily be adhered to.

2. Swiss Ribbons Pvt. Ltd. v. Union of India (Supreme Court, 2019)

A constitutional bench upheld the validity of IBC and NCLT’s role as adjudicating authority. The Court held that the differentiation between financial and operational creditors is constitutionally valid and not arbitrary.

3. Committee of Creditors of Essar Steel India Limited v. Satish Kumar Gupta (Supreme Court, 2020)

The Supreme Court reiterated that NCLT has limited jurisdiction to approve or reject a resolution plan and cannot rewrite the commercial wisdom of the CoC. This judgment reinforced the primacy of the CoC in CIRP.

4. Jaypee Infratech Case (Multiple NCLT Orders, 2017–2023)

One of the most high-profile insolvency cases in Indian history. NCLT’s handling of the Jaypee Infratech insolvency involving over 20,000 homebuyers established important precedents for homebuyers as financial creditors under IBC.

5. Videocon Industries Case (NCLT Mumbai, 2021)

NCLT approved the resolution plan of Twin Star Technologies for Videocon Industries, with a haircut of approximately 95%. This was a watershed moment for large corporate insolvencies and tested the limits of commercial wisdom of CoC.

6. Go First Airlines Case (NCLT Delhi, 2023)

NCLT admitted the voluntary insolvency of Go First Airlines under Section 10 of IBC, marking one of the first major airline insolvencies in India. The case raised significant questions about aircraft lessors’ rights under IBC.

NCLT and Its Role in Mergers & Acquisitions in India

Scheme of Compromise and Arrangement (Section 230)

Under Section 230 of the Companies Act, 2013, a company can enter into a scheme of compromise or arrangement with its creditors or shareholders. NCLT plays a central role in:

• Calling meetings of shareholders/creditors to vote on the scheme
• Approving schemes that receive the requisite majority (majority in number AND 3/4th in value)
• Ensuring protection of the interests of minority shareholders
• Ensuring compliance with all regulatory requirements

Fast-Track Mergers (Section 233)

Section 233 of the Companies Act, 2013 allows certain small company mergers and holding-subsidiary mergers to be processed through a fast-track route, requiring approval from the Registrar of Companies (RoC) rather than NCLT. However, NCLT retains supervisory jurisdiction and any objector can approach NCLT.

Cross-Border Mergers (Section 234)

Section 234 allows mergers between Indian companies and foreign companies. NCLT has jurisdiction to approve such cross-border mergers, provided the foreign company is incorporated in a country notified by the Central Government. The Reserve Bank of India (RBI) has also issued Foreign Exchange Management (Cross-Border Merger) Regulations, 2018, which must be complied with.

NCLT E-Filing Portal – How to Use It in 2026

Online Filing Steps

NCLT has a dedicated e-filing portal at https://filing.nclt.gov.in. Here is how to use it:

30. Register on the NCLT e-filing portal using your mobile number and email ID
31. Select the type of petition/application from the dropdown menu
32. Fill in all required details of the company and petitioner
33. Upload all mandatory documents in PDF format (maximum file size: 50 MB per document)
34. Select the appropriate NCLT bench based on the company’s registered office address
35. Pay the court fee online through net banking, UPI, debit card, or credit card
36. Submit the application and note the Case Reference Number (CRN)
37. Download and print the filing receipt along with all uploaded documents
38. File physical copies (hard copies) at the Registry of the relevant NCLT bench within 3 working days

Technical Requirements

• All documents must be in PDF/A format
• Company documents must be certified true copies or notarised
• Affidavits must be notarised and uploaded in original scanned form
• Digital Signature Certificate (DSC) is required for company officials

Special Powers and Emerging Areas in 2026

NCLT and Personal Guarantors

Pursuant to the Supreme Court’s landmark ruling in Lalit Kumar Jain v. Union of India (2021), NCLT has jurisdiction over insolvency of personal guarantors to corporate debtors. This has significantly expanded NCLT’s scope, allowing banks and financial institutions to simultaneously initiate proceedings against both the company and its personal guarantors (such as promoters and directors).

NCLT and Real Estate Disputes

Following amendments to IBC recognising homebuyers as financial creditors (Section 5(8)(f), IBC), NCLT now handles thousands of real estate insolvency cases where homebuyers file applications against defaulting real estate developers. The Real Estate (Regulation and Development) Act, 2016 (RERA) works in parallel, but NCLT has emerged as the preferred forum for large-scale defaults.

NCLT and Pre-Packaged Insolvency Resolution (PPIRP)

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 introduced the Pre-Packaged Insolvency Resolution Process (PPIRP) for MSMEs (companies with default up to Rs. 1 Crore). NCLT adjudicates PPIRP applications and ensures the process is completed within 120 days, making it faster and less disruptive for smaller businesses.

NCLT and Green Bonds / ESG Compliance

In 2025-26, NCLT has started seeing cases related to ESG (Environmental, Social, Governance) non-compliance by companies, particularly in the context of schemes of arrangement and sustainability-linked bonds. Companies seeking NCLT approval for restructuring are increasingly required to disclose ESG compliance status.

Practical Tips for Practitioners and Companies in 2026

For Companies

• Maintain proper and up-to-date statutory registers to avoid delays in NCLT proceedings
• Ensure timely filing of annual returns and financial statements with RoC to avoid adverse inference
• In case of potential insolvency, explore out-of-court settlement (Section 12A, IBC) before filing
• Engage an IBBI-registered Insolvency Professional well in advance for IBC matters
• Keep the Board informed and pass appropriate resolutions before approaching NCLT

For Creditors

• Collect and preserve all documentation of debt (loan agreements, invoices, statements of accounts)
• Issue demand notice under Section 8 of IBC before filing operational creditor application
• Verify the financial creditor status carefully – NCLT scrutinises the nature of debt before admission
• Track CIRP timeline strictly – any delay beyond 330 days can trigger mandatory liquidation

For Lawyers and CS Professionals

• Stay updated with latest NCLT Practice Directions issued from time to time
• Ensure all petitions are verified by affidavit before filing
• E-filing is mandatory for all new petitions – physical-only filing is not accepted
• NCLT has the power to impose costs for frivolous applications – exercise diligence

Conclusion

The National Company Law Tribunal (NCLT) stands as the cornerstone of India’s corporate legal infrastructure. Since its establishment in June 2016, NCLT has revolutionised the way India handles company disputes, insolvency proceedings, mergers, and shareholder grievances. With 16 operational benches across the country, a robust e-filing system, and a constantly evolving jurisprudence shaped by landmark Supreme Court decisions, NCLT has firmly established itself as the go-to forum for all corporate legal matters in India.

For businesses, investors, creditors, and legal professionals alike, a thorough understanding of NCLT’s structure, jurisdiction, and procedures is not just advantageous – it is indispensable in today’s dynamic Indian corporate landscape. As India’s economy continues to grow and corporate transactions become more complex in 2026, the role of NCLT will only continue to expand and evolve.

Whether you are a startup founder seeking to understand your legal obligations, a creditor looking to recover dues, a shareholder facing mismanagement, or a legal professional advising clients on corporate matters – NCLT is the institution you need to know inside out.

⚖️ Stay legally informed. Stay ahead.