National Company Law Tribunal is new forum of quasi – judicial nature. This is functional since June 1, 2016. There is lot of talk about National Company Law Tribunal since last two decades. In this blog post, we will discuss basic information which one need to know.
Computation of time Period
According to rule 3 of National Company Law Tribunal Rules, 2016, the day on which a time period is reckoned shall be excluded in computing the time period.
Where last day expires on a day when office of the Tribunal is closed, that day and any succeeding day when the office of the Tribunal is closed, shall be excluded.
This calculation shall be same whether a period is prescribed by the Act, or any other law or these rules or fixed by the Tribunal for doing any act.
According to rule 4 of National Company Law Tribunal Rules, 2016, Forms to use before the Tribunal are prescribed in Annexure “A” of these rules. In each case, these forms may be used with such modification or verification as required on basis of circumstance of each case.
Where a Form is not prescribed, the Registrar of the Tribunal may permit a form and it may be used by parties.
Format of order or direction or rule
According to rule 5, every rule, direction, order, summons, warrant or other mandatory process shall be –
- issued in the name of the President
- signed by the Registrar or any other officer specifically authorised in that behalf by the President,
- Signed with the day, month and year of signing, and
- sealed with the seal of the Tribunal.
Custody of records
According to rule 7, the Registrar shall have the custody of the records of the Tribunal.
No record or document filed in any cause or matter shall be allowed to be taken out of the custody of the Tribunal without the leave of the Tribunal
Registrar may allow any other officer of the Tribunal to remove any official paper or record for administrative purposes from the Tribunal.
According to rule 9, the sitting hours of the Tribunal shall ordinarily be from 10:30 AM to 1:00 PM and 2:00 P.M. to 4:30 PM. The President by an order may modify this timing.
According to sub – rule (1) of rule 10, the office of the Tribunal shall remain open on all working days from 09.30 A.M. to 6.00 P.M.
According to rule sub – rule (2) of rule 10, the Filing Counter of the Registry shall be open on all working days from 10.30 AM to 5.00 P.M.
According to sub – rule (1) of rule 10, there shall be no working hours on Saturday, Sunday and National Holidays.
Listing of cases
According to rule 13, an urgent matter which is filed before 12 noon shall be listed before tribunal on the following working day.
In exceptional cases, an urgent matter which is filed before 3.00 P.M. for listing shall be listed on the following working day with specific permission of the Bench.
Such case shall be so listed only if, it is complete in all respect as provided in NCLT Rules, 2016.
Power to exempt
According to rule 14, the Tribunal may on sufficient cause being shown, exempt the parties from compliance with any requirement of these rules.
The Tribunal may give such directions in matters of practice and procedure, as it may consider just and expedient on the application moved in this behalf to render substantial justice.
Power to extend time
According to rule 15, the Tribunal may extend the time appointed by these rules or fixed by any order for doing any act or taking any proceeding. While extending time, the tribunal may impose upon such terms as the justice of the case may require. Any enlargement may be ordered by the Tribunal, although the application therefore is not made until after the expiration of the time appointed or allowed.
Please note: This blog invite readers to share their comments, suggestions, hardship, queries and everything in comment section. This blog post is not a professional advice but just a knowledge sharing initiative for mutual discussion.