The National Company Law Tribunal, can be defined as a quasi-judicial body which was established by the Indian Government to settle disputes arising between civil corporations. The NCLT came to being as a result of the Eradi Committee. NCLT was intended to be introduced in the Indian legal system in 2002 under the framework of Companies Act, 1956 however, due to the litigation with respect to the constitutional validity of NCLT which went for over 10 years, therefore, it was notified under the Companies Act, 2013.