New Delhi, Jan 22: A five judge-constitution bench
headed by Chief Justice K G Balakrishnan has started the
hearing on whether setting up the National Company Law
Tribunal (NCLT) and National Company Law Appellate Tribunal
(NCLAT) was constitutional.
The Centre has filed an appeal seeking a stay on the
Madras High Court order that declared the setting up of these
tribunals as unconstitutional.
A three-judge bench headed by Chief Justice K G
Balakrishnan had on May 18, 2007, referred the setting up of
the two to a five-judge constitutional bench.
The NCLT seeks to replace the Company Law Board, the
Board of Industrial and Financial Reconstruction and the
Appellate Authority of Industrial and Financial
Reconstruction, besides the High Court, in respect of cases
related to company matters.
Bureau Report
