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of <h1>Company Law Board dissolved; NCLT established for company disputes. Appeals possible to Appellate Tribunal and Supreme Court.</h1> The Companies (Second Amendment) Act, 2002, led to the dissolution of the Company Law Board, with its members vacating their positions without compensation. The National Company Law Tribunal (NCLT) was established to assume its functions, comprising a President and up to sixty-two judicial and technical members. Appeals against NCLT decisions can be made to the National Company Law Appellate Tribunal, consisting of a Chairperson and up to two members. Further appeals on questions of law can be made to the Supreme Court within sixty days, with potential extensions for valid reasons.
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