Tag Archives: NCLT

Appeal or Application for Restoration of Names of Company


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.

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REDUCTION OF SHARE CAPITAL


Section 66 of the Companies Act, 2013, discussed earlier here, was notified on 7th December 2016 with effect from 15th December 2016. Central Government on 15th December 2016 notified the National Company Law Tribunal (Procedure for reduction of share capital of Company) Rules, 2016 with effect from even date. In this post we will discuss the same. Continue reading

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.

POWER AND FUNCTION OF NATIONAL COMPANY LAW TRIBUNAL


 In last we discussed constitution of National Company Law Tribunal and Appellate tribunal. Now, it comes to power and function of the Tribunal.

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CONSTITUTION OF NATIONAL COMPANY LAW TRIBUNAL


I am not going to discuss much debated thing, whether National Company Law Tribunal ever be constituted. I am going to discuss provisions in this Act; whether they are applicable or going to be applicable or not.

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