Explanation:

The National Company Law Tribunal (NCLT) has been set up under the Companies Act of 2013. It has provided an effective and time bound adjudication mechanism to deal with matters related to the Companies Act of 2013, the Insolvency and Bankruptcy Code (IBC) of 2016 andthe LLP Act of 2008. It is in news recently because the Government of India (GoI) has recently approved establishment of two new benches of NCLT, one at Amaravati in Andhra Pradesh and the other at Indore in Madhya Pradesh.Presently, 14 numbers of NCLT Benches have been established, including the Principal Bench in New Delhi.