Category Archives: Chapter XXVII – CA2013

NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Transfer of Proceedings


Ministry of Corporate Affairs notified the Companies (Transfer of Pending Proceedings) Rules, 2016 on 7th December 2016. These Rules shall come into effect on 15th December 2016. In this post, we will discuss these rules.

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Removal of judicial difficulty


This is 13th Removal of difficulty for the Companies Act, 2013. Central Government on 7th December 2016 notified the Companies (Removal of Difficulty) fourth Order, 2016 which shall come into effect from 15th December 2016.

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Companies Act 2013 Amended by Insolvency and Bankruptcy Code 2016


A notification issued by Ministry of Corporate Affairs notified section 255 of the Insolvency and Bankruptcy Code, 2016. By virtue of notification of Section 255 of Insolvency and Bankruptcy Code, 2016; the Companies Act, 2013, stands amended in accordance with Schedule XI of the IBC2016 with effect from 15th November 2016. We shall have a short discussion here.

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Appearance of authorised representative – NCLAT


In this post we will discuss Appearance of authorised representative before of National Company Law Appellate Tribunal given in Part – X of the National Company Law Appellate Tribunal Rules, 2016 which consist of rules 63 to 66.

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Inspection of Record – NCLAT


In this post we will discuss inspection of record of National Company Law Appellate Tribunal given in Part – IX of the National Company law Appellate Tribunal Rules, 2016 which consist of rules 57 to 62.

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SERVICE OF PROCESS – NCLAT


In this post we will discuss service of process and appearance of respondent and objections. These provisions are given in Part – VII of National Company law Appellate Tribunal Rules, 2016 which consist of rules 48 to 54.

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Record of proceedings


In this post, we shall discuss record of proceeding by National Company Law Appellate Tribunal under Part – V of the National Company Law Appellate Tribunal Rules, 2016.

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Cause List – NCLAT


In this post we shall discuss cause list of National Company Law Appellate Tribunal. Part – V of National Company Law Appellate Tribunal Rules, 2016 comprising rules 33 and 34 discusses about cause list.

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Presentation of Appeal – NCLAT


In this post, we will discuss matter presentation of appeal before and National Company Law Appellate Tribunal. This post is written with a view that reader may check documents just before reaching at filing counter of the Tribunal.

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Presentation of petition – NCLT


In this post, we will discuss matter presentation of petition or appeal before National Company Law Tribunal. This post is written with a view that reader may check documents just before reaching at filing counter of the Tribunal.

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Institution of proceedings before NCLT


In this post, we discuss institution of proceedings before National Company Law Tribunal and National Company Law Appellate Tribunal.

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Power and functions of Registrar etc – NCLT/NCLAT


In this post we will discuss power and functions of President, Registrar and Secretary of National Company Law Tribunal and power of Registrar of National Company Law Appellate Tribunal.

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Basic Information about NCLAT


National Company Law Appellate Tribunal is new forum of quasi – judicial nature. This is functional since June 1, 2016. There is lot of talk about National Company Law Appellate Tribunal along with Company Law Appellate since last two decades. In this blog post, we will discuss basic information which one need to know.

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Basic Information about NCLT


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.

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Notification of Sections Relevant for NCLT


Yesterday late evening, I posted here about press release issued by Ministry of Corporate Affairs. Soon thereafter, two files uploaded on Official Gazette website with two notifications in each. In earlier post here today, we discussed establishment and jurisdiction of various NCLT benches.

In this post, we will have a bird’s eye view on Sections notified on 1st June 2016 related to NCLT.

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NCLT NCLAT and Jurisdiction


Yesterday late evening, I posted here about press release issued by Ministry of Corporate Affairs and tweets posted by Ministry of Finance. Soon thereafter, two files uploaded on Official Gazette website with two notifications in each. In this post, we will discuss three notifications dealing with jurisdiction. Another post related to provisions notified will follows. Keep watch on this space. Continue reading

NCLT Established: MCA


Wait before celebration. Caution is buzz word at all transition. Celebration may be deferred till first anniversary.

Now, yes; a press release dated 1st June 2016 time 17.14 IST announce establishment of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) with dissolution of Company Law Board (CLB). Observer, rightly say, this is name change only with minor changes to facilitate – like appointment of Chairperson NCLAT.

The Ministry of Corporate Affairs has, according to said press release, issued notification for constitution of the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) with effect from today i.e. 1st June, 2016. Honourable Justice S. J. Mukhopadhaya, Judge (Retd.), Supreme Court of India has joined as the Chairperson of the NCLAT and Honourable Justice M. M. Kumar, Judge (Retd.) has joined as the President of the NCLT.

With the constitution of the NCLT, the Company Law Board constituted under the Companies Act, 1956 stands dissolved.

Initially, NCLT will have eleven Benches, two at New Delhi and one each at Ahmedabad, Allahabad, Bengluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata and Mumbai.

Same time, in absence of Ministry of Corporate affairs on twitter and other social media, official twitter handle of Ministry of Finance socially announced the same:

 

Till the time of posting this blog post; neither relevant notification was uploaded to official gazette website nor copy of unpublished draft notification uploaded on website of Ministry of Corporate Affairs.

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.

Part of Companies Amendment Act became Effective


A draft notification posted here on website of Ministry of Corporate Affairs says that Section 1 to 12 and Section 15 to 23 of the Companies (Amendment) Act, 2015 came into force with effect from 29th May 2015. The official language of notification read, “the Central Government hereby appoints the 296 May, 2015 as the date on which the provisions of sections 1 to 12 and 15 to 23 of the said Act shall come into force.” The Amendment Act was got presidential assent and notified by Ministry of Law and Justice as such on 26th May 2015 in official gazette.

Two sections not notified yet deals with Fraud Reporting Procedure [Section 13 amending Section 143 of Principal Act] and Related Party Transactions [Section 14 amending Section 177 of Principal Act]. This is understood that Rules related to these sections are in drafting process.

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Supreme Court NCLT Decision dated 14th May 2015


This Supreme Court Judgement available here is a milestone in implementation of new corporate law and development of corporate jurisprudence in India. On cautious note, this is just another step effective implementation of law related to National Company Law Tribunal and its appellate body. Now, the Companies Act, 2013 need minor amendment in line of present Supreme Court decision and ball is now in court of political leadership. Supreme Court decided three important issues in the case.

Constitutional validity of NCT and NCLAT:

By Notification dated 12.09.2013, the Central Government has constituted the National Company Law Tribunal (NCLT) under power conferred by Section 408 of the Companies 2013. By the aforesaid Notification dated 12.09.2013, National Company Law Appellate Tribunal (NCLAT) has also been constituted by the Central Government under power conferred by Section 408 of the Companies 2013.

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THE COMPANIES AMENDMENT BILL 2014: PART 3 OF 3


The Companies Amendment Bill 2014 has been introduced and passed in Lok Sabha recently. This blog post has intention to analyse proposed changes in the Companies Act 2013.

Most important massage, this amendment prepares a best case for drafting skill development programmes in India. I am reading here this Bill clause by clause. This will be a three part series and part 2 of 3 is present here.

To amend sub-section (1) of section 188 of the said Act to exempt related party transactions between holding companies and wholly owned subsidiaries (WOS) from the requirement of approval of non-related shareholders [Section 16 of the Amendment Bill]

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