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15 Supremo Amicus 222 (2020)
COMPAT to NCLAT: Aftermath of the Merger

handle is hein.journals/supami15 and id is 232 raw text is: SUPREMO AMICUS VOLUME 15 ISSN: 2456-9704 COMPAT TO NCLAT: AFTERMATH OF THE MERGER By Nikita Sultania and Piyush Jain From Amity University Kolkata Abstract Company law and competition law both play a significant role in Business and Commercial sector, this article throws light on one of the major overlap between the two sectors of law, which is the merger of the Competition Appellate Tribunal to that with the National Company Law Appellate Tribunal. The authors have tried to analyse the merits and demerits of such merger. With the completion of almost two years of such merger, the authors believe that the Tribunals should have fetched some results specially in disposing of old cases for better understanding of which they have filed an RTI before the authorities the statistics of which are recorded in the article. The article contains essence of the Two hundred and Seventy Second Report of the Law Commission of India. It thus helps to clearly demarcate the areas to be focused on, in order to ensure smooth functioning of the National Company Law Appellate Tribunal in the additional jurisdiction that they have been assigned. Keywords: COMPAT, NCLAT, Finance Act, Competition Act, Merger. 664 Govt. of India, Summary of Administrative Tribunals Act, 1985 (2014). (July 31St, 2019, 4:30 PM) https://dopt.gov.in/sites/default/files/SummaryAT Act_1985_15Dec2014.pdf 665 Draft law on anvil to bring down number of tribunals from 36 to 18, Hindustan Times, Feb 22d, 2017 https://www.hindustantimes.com/india-news/draft- law-on-anvil-to-bring-down-number-of-tribunals- from-36-to-18/story- As per the Government the main objective of an Administrative tribunal is to provide speedy remedy and inexpensive justice to the people concerned by the Act under which the Tribunal is set up.664 But our Head of the Government Mr. Narendra Modi has a different view point, in April, 2015 he said there is a need to brainstorm over whether tribunals lead to faster delivery of justice or are acting as barriers to it and slowing it down.665 This idea of rationalizing the number of tribunals was again proposed in the Budget of 2017 by the Finance Minister Mr. Arun Jetley, who in between his speech mentioned the issue of multiple tribunals with overlapping functions.666 This was the onset of the Finance Bill of 2017 which received assent of the Hon'ble President on 31st March 2017 and came to be known as the Finance Act, 2017 (No. 7 of 2017) (hereinafter Finance Act) which resulted in, inter alia, the merger of 36 tribunals in India to 18.667 The Act brought in some sensible mergers like that of the Railway Rates Tribunal into Railway Claims tribunal668, but at the same time bought in some preposterous mergers, at least on the face of it, like that of Appellate Tribunal of Foreign Exchange with that of Appellate Tribunal of forfeiture of Property Act669, or Airports Economic Regulatory Appellate tribunal with Telecom Dispute Settlement and Appellate Tribunal670. However, the objective of this Research nb6jNYOLVfT5RbSS3ybGNO.html 666 Budget 2017-2018 Speech of Arun Jaitley Minister of Finance, 25 Para 128 (2017) (July 31St 2019, 4:55 PM) https://wwwindiabudgetgov.in/ub2O 17- 18/bs/bs.pdf 667 Financial Act §§ 156-189 (2017) 668 Financial Act § 162 (2017) 669 Financial Act § 165 (2017) 670 Financial Act § 170 (2017) www.supremoamicus.org 222

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