n which year was the National Company Law Tribunal (NCLT) established in India? A. 2002 B. 2013 C. 2016 D. 2019
Question
In which year was the National Company Law Tribunal (NCLT) established in India?
A. 2002
B. 2013
C. 2016
D. 2019
Solution
The National Company Law Tribunal (NCLT) was established in India in the year 2016. It was created under the Companies Act, 2013, which came into effect to provide a specialized forum for the resolution of corporate disputes and to ensure faster and more efficient handling of cases related to company law, including matters related to mergers, acquisitions, and other significant corporate issues.
The tribunal aims to facilitate the fast and fair resolution of corporate matters and promote transparency and accountability among companies, which is essential for the growth of the economy. Hence, the correct answer to the question is:
Final Answer: B. 2013 (for the Companies Act, 2013) and NCLT was officially operational with specific functions in 2016.
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