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Company Law - We all know that The Companies Act, 2013 provides for conversion from one type of a company to another. A Private Company can convert itself into a Public Company merely by altering MOA and AOA but a Public Company can convert itself into a Private Company only after the approval of National Company Law Tribunal […]...
Read MoreCompany Law - As we all knows that Central Government notified NCLT Rules, 2016 on 21st of July, 2016 through notification in the official gazette. The provisions specify the professionals i.e., Company Secretaries, Chartered Accountants and Advocates who can practice before the NCLT or NCLAT....
Read MoreCompany Law - As per section 96 of CA, 2013, every Company (other than OPC) shall hold a general meeting annually (exclusive of any other meeting). But if any default is made in holding the annual general meeting of a Company u/s 96, then the Tribunal (NCLT) shall come into the picture....
Read MoreCompany Law - The NCLAT held that that in the absence of any provision in IBC, the Limitation Act, 1963 would not be applicable to initiation of Corporate Insolvency Resolution Process. The NCLAT further observed:...
Read MoreCompany Law - In this Flash editorial, the author begins by referring the provisions of section 252 of Companies Act, 2013 relating to Revival of Companies Struck off from the record of the Registrar. The main thrust of the article, however, is upon the WHETHER COMPANY CAN BE RESTORE IF NO BUSINESS CONDUCTED SINCE MANY YEARS...
Read MoreCompany Law - The Ministry of Corporate Affairs Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) which will replace Company Law Board, Board for Industrial and Financial Reconstruction and Appellate Authority for Industrial and Financial Reconstruction....
Read MoreCompany Law - The Government has said that it proposes to set up a ‘National Company Law Tribunal’ to consolidate the powers and jurisdiction presently being exercised by various bodies namely, Company Law Board, Board for Industrial and Financial Reconstruction, High Courts and entrust it to the Tribunal. Stating this in written reply to a questio...
Read MoreCompany Law - The ministry of corporate affairs (MCA) has started a round of consultations with the law ministry on the feasibility of setting up a National Company Law Tribunal (NCLT) in the next one year....
Read MoreCompany Law - To set up a Company Law Tribunal without further delay, the Ministry of Corporate Affairs has begun consultations to make the necessary amendments in the Companies Act. The move comes in the backdrop of the Supreme Court judgment recommending changes in the existing Act to accommodate the tribunal within the constitutional framework....
Read MoreCompany Law - In a landmark judgment, a five-judge constitution bench of the Supreme Court on Tuesday upheld the legality of the Companies (Second Amendment) Act, 2002, providing for the establishment of the National Company Law Tribunal and National Company Law Appellate Tribunal to deal exclusively with the company cases for their speedy disposal. ...
Read MoreM/s. Kediya Ceramics (NCLT Ahemdabad) - A partnership firm can participate in a scheme of amalgamation only after converting itself into a company under section 366 of the Act. Since the vesting of properties and liabilities of such partnership firm to the company is by operation of law [Section 368 of the Act], the succession is exempt f...
Read MorePunita Khatter Vs. Explorers Travels & Tours (P) Ltd. (National Company Law Tribunal Delhi) - Representatives from the Institute of Chartered Accountant have prayed for some time to assist this Bench whether disparaging remarks of a personal nature would fall within the purview of a Chartered Accountant to be mentioned in the Audit report....
Read MoreCyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) - Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) A perusal of the aforesaid prayer does not leave any manner of doubt that the prayer was made for entrusting the Company Petition No. 82/2016 to such Bench of the NCLT as may be appropriate for hearing the same ...
Read MoreRe. Atyati Technologies Private Limited (National Company Law Tribunal Bangalore) - If a company contravenes the provisions of this section, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees and every director and key managerial personnel of the company who is in default shall be punishable with fine whic...
Read MoreAnil Steels V. A.D. Electro Steel Co. (P.) Ltd (NCLT Kolkata Bench) - Whether Corporate Debtor can bar the NCLT to accept the petition of Operational Creditor by raising a dispute on the Demand Notice...
Read MoreF. No. 385/04/2018-IT(Budget) - (16/01/2018) - The undersigned is directed to say that by virtue of implementation of Insolvency & Bankruptcy Code (IBC) 2016 after the repeal of erstwhile Sick Industrial Companies Act (SICA). The necessity to decentralize handling of cases at the level of field formations has been felt as 11 National Company Law...
Read MoreF.No. 225/423/2017-ITA.II - (29/12/2017) - Board has decided that request/appeal for restoration of name of the 'struck off' company with retrospective date from the date of being 'struck off' shall be made by the income-tax department in following situations: i. where proceedings under section 143(3)/144/147/153A/153C/set-aside cases wer...
Read MoreF.No.278/M-52/2003-ITJ(Pt.) - (08/11/2017) - On June 01,2016, the Ministry of Corporate Affairs(MCA) published a notification regarding the constitution of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal(NCLAT)....
Read MoreF. No. DIT(RI/DIFR/2017-18/ - (28/09/2017) - In this connection the region wise jurisdiction of companies, against whom insolvency proceedings have been initiated under The Insolvency Bankruptcy Code 2016 (IBC 2016 in short) as available under the icon Public Announcement in the website of Insolvency and Bankruptcy Board Of India (IBBI in shor...
Read MoreF. No. Addl. DIT (R)/BIFR/2017-18/8/733 - (20/09/2017) - The Directorate looks after the cases of sick companies which require rehabilitation/ resolution of sickness. Previously the sick companies used to move Board for Industrial and Financial Reconstruction (BIER) under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). ...
Read MoreM/s. Kediya Ceramics (NCLT Ahemdabad) -
F. No. 385/04/2018-IT(Budget) - (16/01/2018) -
F.No. 225/423/2017-ITA.II - (29/12/2017) -
Punita Khatter Vs. Explorers Travels & Tours (P) Ltd. (National Company Law Tribunal Delhi) -
F.No.278/M-52/2003-ITJ(Pt.) - (08/11/2017) -
Cyrus Investment & Anr Vs. Tata Sons Ltd. & Ors. (National Company Law Tribunal) -
