BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Company Law Tribunal
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National Company Law Treaty
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National Company Law Transit
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National Council Law Tribunal
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Detailed explanation-1: -The committee of creditors of bankrupt Essar Steel had chosen ArcelorMittal as the highest bidder and submitted the Rs42, 000-crore plan of the world’s largest steel maker before the NCLT bencha at Ahmedabad for approval. This was ArcelorMittal’s second bid for Essar Steel.
Detailed explanation-2: -Arcelor-Nippon JV to acquire Essar’s steel infrastructure for $2.4 billion.
Detailed explanation-3: -The The NCLT and NCLAT are two important institutions in India that play a crucial role in resolving disputes related to corporate law. The NCLT is the primary forum for resolving disputes, while the NCLAT is the appellate tribunal for hearing appeals against orders passed by the NCLT.
Detailed explanation-4: -The tribunal was established under the Companies Act 2013 and was constituted on 1 June 2016 by the government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies.