Recent Amendment in the National Company Law Tribunal (Second Amendment) Rules 2019 tries to complete the structure of law governing class action suits. We have much earlier here discussed class action suits under the Companies Act, 2013 and rules made thereunder. Here, we will have an updated post discussion the law as up to date 8 May 2019.
Many years ago one Hindu priest told me, those worshipping Laxmi ji (goddess of wealth) before without satisfying Ganesh Ji (god of goodness) may not get good wealth. We need to follow established a procedure to get the desired result. Without understanding utility of Form DIR – 10, its use may not give the desired result. Here, we will have a discussion.
Posted in Chapter XI - CA2013, Chapter XIX -CA2013, Chapter XVIII - CA2013
Tagged Annual Accounts, Annual Filing, Annual Returns, Disqualified Director, National Company Law Tribunal, Registrar of Companies, Removal of Name, Restoration of Companies, Shell Companies, Strike – off companies, Winding Up
Compliance way or Confine way! The Government made it clear. Directors who were on a long-term picnic after removal of names of their “shell companies” are now offered sleepless nights. I appreciate.
Ministry of Corporate Affairs issued two important lists in this regard –
Posted in Chapter IX - CA2013, Chapter XI - CA2013, Chapter XVIII - CA2013, Chapter XXIX - CA2013, Companies Act 2013
Tagged Annual Accounts, Annual Filing, Annual Returns, Disqualified Director, National Company Law Tribunal, Registrar of Companies, Removal of Name, Restoration of Companies, Shell Companies, Strike – off companies, Winding Up
Recent case of Jaypee Infratech, question arises where should home-buyers be classified? Are home-buyers financial creditors or operational creditors? In case, home-buyers they classify themselves as operational creditors, will they forego their claim on interest or assured return on their advances? In case, home-buyers they classify themselves as financial creditors, will they forego their claim over homes? This was a game of dice, will company be able to resolve insolvency or face liquidation?
These amendments try to solve these issues.
Posted in Insolvency and Bankruptcy Code 2016
Tagged Insolvency and Bankruptcy Board of India, Jaypee Infratech, National Company Law Tribunal, the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations 2017, the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations 2017, the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations 2017, the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016
The National Company Law Tribunal (Amendment) Rules, 2017 notified on 6th July 2017 which came into force in same date inserted Rule 87A the National Company Law Tribunal Rules, 2016. In this post, we will discuss newly inserted rules with brief background.
Posted in Chapter XVIII - CA2013, Companies Act 2013
Tagged MCA21, Ministry of corporate affairs, National Company Law Tribunal, National Company Law Tribunal Rules 2016, NCLT, Registrar of Companies, Removal of Name, Rule 87A, The Companies (Removal of Names of Companies from the Register of Companies) Rules 2016, The National Company Law Tribunal (Amendment) Rules 2017
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.
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.
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.
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.
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.
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.
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.
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.
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.
In this post, we discuss institution of proceedings before National Company Law Tribunal and National Company Law Appellate Tribunal.
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.
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.
Posted in Chapter XXVII - CA2013, Companies Act 2013
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