The National Company Law Appellate Tribunal (NCLAT) is a quasi-judicial appellate body established under the Companies Act, 2013 to hear appeals against orders of the National Company Law Tribunal (NCLT) and certain orders of other regulatory authorities.

• Established: Under the Companies Act, 2013 and became operational in 2016.
• Nature: Quasi-judicial appellate tribunal.
• Purpose: To provide specialised, speedy and effective appellate resolution of corporate, insolvency and competition-related disputes.

Functions and Powers of NCLAT

• NCLT Appeals: Under Section 421, Companies Act, 2013, hears appeals against NCLT orders and may confirm, modify or set aside them.
• Insolvency Appeals: Under Section 61, IBC, 2016, hears appeals against NCLT orders in insolvency, resolution and liquidation matters.
• CCI Appeals: Hears appeals against specified directions, decisions and orders of CCI under the Competition Act.
• NFRA Appeals: Hears appeals against specified NFRA orders under the Companies Act.
• IBBI Appeals: Exercises appellate jurisdiction over specified IBBI orders under the IBC.
• Examine Records: Can examine the records and proceedings of the lower authority.
• Grant Relief: Can provide appropriate relief within its statutory jurisdiction.
• Supreme Court: Under Section 423, Companies Act, NCLAT orders can be challenged before the Supreme Court only on a question of law.
• IBC Appeal: Under Section 62, IBC, appeal to the Supreme Court lies on a question of law, generally within 45 days, with limited extension.