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ARTICLE · 05 JUNE 2017

Compat No More: NCLAT Marches On

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As per a recent amendment, the Competition Appellate Tribunal (COMPAT) has ceased to exist effective 26 May 2017.

IndiaAntitrust/Competition Law
Susmit Pushkar
Susmit Pushkar
Sakshi Agarwal
Sakshi Agarwal
Aman Singh Baroka
Aman Singh Baroka
Megna Sundar
Megna Sundar
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As per a recent amendment, the Competition Appellate Tribunal (COMPAT) has ceased to exist effective 26 May 2017. The appellate function under the Competition Act, 2002 (Competition Act) would now confer to the National Company Law Appellate Tribunal (NCLAT). These amendments were brought about under the provisions of Part XIV of Chapter VI of the Finance Act, 2017. Accordingly, Sections 2(ba) and 53A of the Competition Act and Section 410 of the Companies Act, 2013 (CA 2013) have been appropriately amended and various other provisions of the Competition Act dealing with the COMPAT have been omitted. Further, Section 417A has been introduced in the CA 2013 and deals with the qualifications, terms and conditions of service of the Chairperson and Members of the NCLAT.

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