Powers of NCLT and NCLAT
The NCLT has the authority to take a variety of actions, including cancelling a company's registration and dissolving it. The Tribunal may also make members' liabilities or fees unlimited. NCLT is now allowed to hear complaints about firms being denied permission to move shares and stocks under sections 58 and 59 of the Act, which was formerly under the purview of the Company Law Board. The NCLT has the authority to order an investigation and may request assistance from judges, investigation bodies, and international governments. During an audit, they will even put a company's properties on hold. Under the Companies Act, the NCLAT is an appellate body that hears appeals from the NCLT. Under the IBC, 2016, it also hears appeals from the NCLT. In addition, it hears appeals from The Insolvency and Bankruptcy Board of India and the Competition Commission of India.
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