ORDER

1.The challenge in these appeals is to the validity of the provisions of Companies Act, 1956 as amended by the Companies (Second Amendment) Act, 2002, which provides for setting up of National Company Law Tribunal and National Company Law Appellate Tribunal. Barring the jurisdiction exercised under Articles 226 and 227, almost all jurisdictions hitherto exercised by the High Courts in regard to the company matters would be transferred and exercised by the proposed Tribunal and Appellate Tribunal.

2.We have heard Mr. Gopal Subramanium learned Additional Solicitor General of India and Mr. A.P. Datar learned Senior Counsel appearing for the Madras Bar Association, at some length.

3.Law relating to the legislative competence to establish Tribunals has been enunciated in several judgments of this court, including L. Chandra Kumar Vs. Union of India and Ors.,1 (1997) 3 SCC 261; Union of India & Anr. Vs. Delhi High Court Bar Association & Ors.,2 (2002) 4 SCC 275 and State of Karnataka Vs. Vishwabharathi House Building Cooperative Society & Ors.,3 (2003) 2 SCC 412. It has been held that under Entries 77, 78, 95 of List I, Entry 65 of List II and Entry 11A of List III, the Parliament an