Income Tax - Everyone knows High Court and Supreme Court but few People like CA/CS/Lawyers know NCLT & NCLAT. Lets through light on this topic in very simple language for better understanding of student and Public at Large. Introduction: – NCLT, National Company Law Tribunal is a quasi-judicial body to regulate and resolve Civil Corporate di...
Read MoreIncome Tax - NCLT, Mumbai Bench dismissed the petition filed by Cyrus Mistry who incidentally owns about 18.3% (including preference capital) of Tata Sons Limited. NCLT ruled that Tata Sons Limited has all the rights to remove its Executive Chairman and NCLT found no merit in Mistry’s  allegations of operational mismanagement and oppression of mino...
Read MoreIncome Tax - 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 MoreIncome Tax - 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 MoreIncome Tax - 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 MoreIncome Tax - Committee on review of penal provisions of Company Act 2013 submits final report to Shri Arun Jaitley. Recommends Restructuring of Corporate Offences to relieve Special Courts from adjudicating routine offences; De-clogging the NCLT. Made several recommendations related to corporate compliance and corporate governance ...
Read MoreIncome Tax - 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 MoreIncome Tax - 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 MoreIncome Tax - 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 MoreIncome Tax - 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 MoreIn re Anil Syal (NCLT) - From the report there does not appear any request of the Resolution Professional for issuance of the instructions for the purpose of conducting negotiations between the debtor and creditors for arriving at the repayment plan. Therefore, based on the reasons recorded in the report submitted by the Re...
Read MoreArrowline Organic Products Pvt. Ltd. Vs Rockwell Industries Limited (National Company Law Tribunal) - The Tribunal held that in the absence of any power of recall or review being available to the Tribunal, the present case at hand does not fall within the confines of Section 420 of the Companies Act, 2013 nor Rule 11 of the NCALT Rules, 2016. As recourse, the Applicant should have approached the App...
Read MoreMrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) - Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared that the incorporation of M/s. Colour Books Associates Private Limited (Respondent No.1 Company, is vitiated by fraud and consequently, the Certificate of Incorporation dat...
Read MoreAsset Reconstruction Company (India) Pvt Ltd Vs Shivam Water Treaters Pvt Ltd (NCLT, Mumbai) - This is the case, where despite moratorium order, Municipal Authorities have sealed the Corporate Office/Registered Office of the Corporate Debtor. Section 238 of the IBC, 2016 provides the overriding effect. Moratorium order has been passed under Section14 of the IBC on 15.10.2018. After that Munic...
Read MoreGaurav Pandey Vs Eternity Investment Services Pvt. Ltd. & Anr. (National Company Law Appellate Tribunal) - Gaurav Pandey Vs Eternity Investment Services Pvt. Ltd. & Anr. (National Company Law Appellate Tribunal, Delhi) 30.11.2018 On 16th November, 2018 when the matter was taken up, the following order was passed : “Apart from other issues raised in the appeal it is contended by learned senior coun...
Read MoreFile No. 10/03/2019-NCLT - (25/07/2019) - President, National Company Law Tribunal hereby constitutes the following Benches for the purpose of exercising and discharging the Tribunal's powers and functions:...
Read MoreNotification No. S.O. 3683(E) - (27/07/2018) - Central Government hereby constitutes the National Company Law Tribunal, Kochi Bench at Kochi and for the said purpose hereby makes the following further amendments in the notification of the Government of India, Ministry of Corporate Affairs number S.O. 1935 (E), dated the 1st June, 2016, namely:â€...
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 MoreIn re Anil Syal (NCLT) -
Arrowline Organic Products Pvt. Ltd. Vs Rockwell Industries Limited (National Company Law Tribunal) -
Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) -
File No. 10/03/2019-NCLT - 25/07/2019
Asset Reconstruction Company (India) Pvt Ltd Vs Shivam Water Treaters Pvt Ltd (NCLT, Mumbai) -
Gaurav Pandey Vs Eternity Investment Services Pvt. Ltd. & Anr. (National Company Law Appellate Tribunal) -
Nikhil Mehta & Sons (HUF) & Ors vs M/s AMR Infrastructure Ltd (NCLT, New Delhi) -
Notification No. S.O. 3683(E) - 27/07/2018