Amalgamation and Winding Up cases to be transferred to NCLTs

Sponsored

Nirmal Saini

MCA, vide notification no. S.O. 3677(E) dated December 7, 2016 has notified some existing sections of the Companies act 2013, which shall come into force from December 15,.2016.

Some of the important sections notified are as follows:

SL. No.	Sections	Relating to:
1.	Clause (23) of section 2	Company Liquidator
2.	Clause (c) and (d) of sub-section (7) of section 7	Removal of name and winding up of Company on furnishing false information while incorporating the Company.
3.	Section 48	Variation of shareholders’ rights
4.	Section 66	Reduction of share capital.
5.	Section 230 [except sub-section (11) and (12)], and Sections 231 to 240 [except section 234 which provides merger with foreign company)	Compromises, arrangements, and amalgamations
6.	Sections 270 to 303 [except section 289 which deals with application for stay of winding up]	Winding up of Companies.
7.	Sections 326 to 365	Winding up of Companies.
8.	Sections 375 to 378	Winding up of unregistered Companies
9.	Sub-section (2) of section 391	Closure of the place of business of a foreign Company in India
10.	Clause (c) of sub-section (1) of section 434	All proceedings under the Companies Act, 1956 (1 of 1956), including proceedings relating to arbitration, compromise, arrangements and reconstruction and winding up of companies, pending immediately before such date before any District Court or High Court, shall stand transferred to the Tribunal and the Tribunal may proceed to deal with such proceedings from the stage before their transfer.