Definition
National Company Law Tribunal – The Indian quasi-judicial body that approves corporate restructurings such as mergers, demergers, and schemes of arrangement between a company and its shareholders/creditors. A demerger (e.g. a company splitting off a business line into a separately listed entity) only becomes legally effective once the NCLT issues its approval order, which then sets the "appointed date" the restructuring is treated as effective from. Found In: Notes to Financial Statements (scheme of arrangement/demerger disclosures)