An order passed by the National Company Law Tribunal (NCL

The National Company Law Appellate Tribunal (NCLAT) is the statutory appellate body constituted under Section 410 of the Companies Act 2013. Orders passed by the NCLT — including those relating to oppression and mismanagement (Sections 241–244), insolvency proceedings under the Insolvency and Bankruptcy Code 2016, and other corporate matters — are appealed to the NCLAT. The Company Law Board was the predecessor body replaced by NCLT. SAT hears appeals against SEBI orders. From NCLAT, further appeals lie to the Supreme Court of India on questions of law, making the Supreme Court the second-level appellate authority, not the first.