Who among the following has been appointed as the new Chairperson of the National Company Law Appellate Tribunal (NCLAT), for a period of four years or until he attains the age of 70 years, whichever is the earliest in November 2021?
Justice Ashok Bhushan
Understanding the National Company Law Appellate Tribunal (NCLAT) Appointment
The question asks about a significant appointment made in November 2021: the new Chairperson of the National Company Law Appellate Tribunal (NCLAT). Understanding who heads such a crucial judicial body is important for current affairs and legal knowledge.
What is the National Company Law Appellate Tribunal (NCLAT)?
The NCLAT is an appellate body that hears appeals against orders passed by:
- The National Company Law Tribunal (NCLT), under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC).
- The Insolvency and Bankruptcy Board of India (IBBI) under Section 202 and Section 211 of the IBC.
- The Competition Commission of India (CCI) under Section 53B of the Competition Act, 2002.
- The National Financial Reporting Authority (NFRA) under Section 132(5) of the Companies Act, 2013.
Its primary role is to provide a forum for challenging decisions made by these regulatory and quasi-judicial bodies.
Analysis of the NCLAT Chairperson Appointment in November 2021
In November 2021, a new Chairperson was appointed to lead the National Company Law Appellate Tribunal (NCLAT). The appointment was for a specific tenure: four years or until the person reached the age of 70, whichever happened earlier.
Identifying the correct individual among the options requires knowledge of this specific appointment. Let's look at the possibilities provided:
- Justice Vikram Nath
- Justice Abhay Oka
- Justice BV Nagarathna
- Justice Ashok Bhushan
The appointment for the post of Chairperson of the NCLAT in November 2021, with the specified tenure, was indeed that of Justice Ashok Bhushan.
Role and Significance of the NCLAT Chairperson
The Chairperson is the administrative and judicial head of the National Company Law Appellate Tribunal. They preside over benches and play a key role in ensuring the efficient functioning of the tribunal, which deals with complex cases related to company law, insolvency, and competition law.
The appointment of the Chairperson is a significant event for the corporate and legal landscape in India, impacting the direction and speed of crucial case resolutions.
Details of the Appointment
The appointment of Justice Ashok Bhushan as the Chairperson of the National Company Law Appellate Tribunal (NCLAT) took effect in November 2021. His tenure is set for four years from the date of assuming office or until he attains the age of 70 years, whichever event occurs first. This ensures leadership continuity for a defined period, bringing stability to the appellate process.
| Body | Head Appointed | Effective Month/Year | Notes |
|---|---|---|---|
| National Company Law Appellate Tribunal (NCLAT) | Justice Ashok Bhushan | November 2021 | Tenure: 4 years or until age 70, whichever is earlier. |
Conclusion on the NCLAT Chairperson
Based on the appointment information from November 2021, the individual appointed as the Chairperson of the National Company Law Appellate Tribunal (NCLAT) was Justice Ashok Bhushan.
Revision Table: Key Appointments
| Position | Appointee | Appointment Date/Period (Contextual) |
|---|---|---|
| NCLAT Chairperson | Justice Ashok Bhushan | November 2021 (4 years or till 70) |
| NCLT President | (Requires separate knowledge) | (Requires separate knowledge) |
| Chief Justice of India | (Requires separate knowledge) | (Requires separate knowledge) |
Additional Information: Structure of NCLAT
The National Company Law Appellate Tribunal (NCLAT) consists of a Chairperson and such number of Judicial and Technical Members, not exceeding eleven, as the Central Government may deem fit.
- The Chairperson heads the tribunal.
- Appeals from NCLT lie with NCLAT.
- Appeals from NCLAT can go to the Supreme Court on points of law.
The establishment of NCLAT was a part of reforms to streamline the corporate insolvency resolution and company law litigation process in India.
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