The provisions of the Companies Act, 2013 regarding constitution of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) had been challenged in the Supreme Court and the matter was decided by the Hon’ble Court by judgment dated 14th May, 2015. The process of setting up of these bodies has been initiated and these are likely to become functional from the next financial year.

 This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha.

Tribunal constitution under Companies Act initiated; implementation process announced following judicial decision; operations expected soon Provisions of the Companies Act, 2013 establishing a specialised company tribunal regime were judicially challenged and decided by the Supreme Court; the executive has initiated constitution steps and, per the corporate affairs minister's parliamentary reply, the tribunals are likely to become functional from the next financial year.