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With reference to the National Company Law Tribunal (NCLT) consider the following statements:
1. It is a constitutional body.
2. It adjudicates the insolvency resolution process of companies.
Which of the statements given above is/are not correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
With reference to the National Company Law Tribunal (NCLT) consider th...
Statement 1 is not correct: National Company Law Tribunal (NCLT) is quasi-judicial body established in 2016 (on the recommendations of the V. Balakrishna Eradi committee) under Section 408 of the Companies Act, 2013.
Statement 2 is correct: Its adjudicates issues relating to Indian companies. NCLT has to adjudicate the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankruptcy Code, 2016
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With reference to the National Company Law Tribunal (NCLT) consider the following statements:1. It is a constitutional body.2. It adjudicates the insolvency resolution process of companies.Which of the statements given above is/are not correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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