National Company Law Tribunal

Procedure for Restoration of Struck off Companies Under Companies Act, 2013

Company Law - CS Vipin Kumar Mittal Keeping in view of the Section 248 to 252 of the Companies Act, 2013 (the Act), as notified by Ministry of Corporate Affairs (MCA) w.e.f. 26th December, 2016 and Rule 87A of the National Company Law Tribunal (NCLT) (Amendment) Rules, 2017 as notified by MCA w.e.f. 5th July, 2017, I have […]...

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National Company law tribunal (NCLT) and Important role for PCS

Company Law - Government has Constituted 11 Benches of NCLT, out of which 2 will be the Principal Bench, which shall be Preside at New Delhi.And the regional bench territory authority is in Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai....

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Reduction of Share Capital under Companies Act, 2013 and NCLT Rules, 2016

Company Law - Section 66 which is the governing provision for Reduction of Share Capital of a company is one amongst those sections notified on 07th December, 2016. Immediately, thereafter, MCA has further, notified the National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016 on 15th December, 2016....

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How to revive a company as per new NCLT amendment rules

Company Law - High percentage of non-compliance of the Companies Act and Rules, the Ministry of Corporate Affairs (MCA) with Registrar of Companies (ROC) had issued show cause notices to various companies. After that various companies received notice regarding removal of name of a company from the register of companies as per sub section (1) of section...

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Snippet on taxability of capital reduction

Company Law - Capital reduction is a commonly adopted tool by companies for re-engineering their capital structure. The need for reducing share capital may arise owing to a number of reasons, such as returning excess funds to the shareholders, adjustment of accumulated losses, minority squeeze out, improving EPS, producing a more efficient capital stru...

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Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT)

Company 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....

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Government proposes to set up ‘National Company Law Tribunal’

Company 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...

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Corporate ministry started consultations on feasibility of setting up NCLT

Company 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....

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Government starts process to set up National Company Law Tribunal

Company 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....

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SC upheld legality of NCLT and NCLAT

Company 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. ...

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Principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases: NCLT

Re. M/S UW International Training & Education Centre for Health Pvt. Ltd. (NCLT Delhi) - NCLT held that the principle of imposition of minimum penalty is non-mandatory in compounding of offenses cases, it is necessary to define and understand offense. The term offence has been defined by s 3(38) of General Clauses Act, as any act or omission made punishable by any law for the time being...

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Withdrawn of Application- After Admission – NCLT – INSOLVENCY CODE

Parker Hannifin India Private Limited v/s Prowess International Private Limited (NCLT Kolkata) - NCLT has cleared that once a petition is admitted by the NCLT under IBC, both the parties have no right to withdraw the petition. As it can say IBC is not a Recovery Law it is Revival Law....

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Petition under IBC 2016 cannot be withdrawn by mutual settlement: NCLT

Re. Parker Hannifin India Private Limited (NCLT Kolkata) - After admission of Petition under IBC 2016, the nature of petition changes to representative suit and the lis does not remain only between Operational Creditor and Operational Debtor. Therefore, Operational Creditor and Operational Debtor alone have no right to withdraw the Petition after admission....

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NCLT can allow Compounding of offence despite advanced stage of prosecution

Teamasia Semiconductors (India) Ltd. & Ors., In re (National Company law Tribunal Hyderabad) - the issue to be decided in the present case is whether the National Company Law Tribunal is having power to allow the applicants to compound the offence in question, especially when prosecution was already initiated and the same is in advance stage....

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Dispensing with requirement for convening meeting of Equity Shareholders not possible: NCLT

Re. JVA Trading Private Limited (National Company Law Tribunal) - In relation to the dispensation of the meeting of the equity shareholders of the Transferor Company is concerned we are not inclined to grant dispensation taking into consideration the provisions of Companies Act, 2013 and the rules framed there under both of which expressly do not clothe this Tribu...

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National Company Law Appellate Tribunal (Amendment) Rules, 2017

G.S.R. 1061(E). - (23/08/2017) - “63. Appearance of authorised representative.- (1) Subject to provisions of section 432 of the Act, a party to any proceedings or appeal before the Appellate Tribunal may either appear in person or authorise one or more chartered accountants or company secretaries or cost accountants or legal prac...

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National Company Law Tribunal (NCLT) (Amendment) Rules, 2017

G.S.R. ___ (E) - (05/07/2017) - "87A. Appeal or application under sub-section (1) and sub-section (3) of section 252. - (1) An appeal under sub-section (1) or an application under sub-section (3) of section 252, may be filed before the Tribunal in Form No. NCLT. 9, with such modifications as may be necessary....

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Comply with norms related to transfer of proceedings from HCs to NCLT before 14.06.2017

NA - (17/05/2017) - The time for compliance of rule 5 of the Companies (Transfer of Proceedings) Rules, 2016 has been extended to six months from 15th December 2016 vide Notification No. GSR 175(E) dated 28th February, 2017 to six months from 15th December 2016....

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Vacancies for Technical Member in NCLT for CA, CS, CMA etc

No.A-12023/2/2017-Ad.IV(i) - (08/03/2017) - Filling up of 12 posts of Technical Member in the National Company Law Tribunal (NCLT) - inviting applications for- selected candidates will be required to serve at any of the already constituted NCLT benches or benches to be constituted in future in different parts of the country in a phased manner...

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National Company Law Tribunal (Amendment) Rules, 2016

G.S.R. 1159(E) - (20/12/2016) - These rules may be called the National Company Law Tribunal (Amendment) Rules, 2016. They shall come into force on date of their publication in Official Gazette....

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Recent Posts in "National Company Law Tribunal"

Procedure for Restoration of Struck off Companies Under Companies Act, 2013

CS Vipin Kumar Mittal Keeping in view of the Section 248 to 252 of the Companies Act, 2013 (the Act), as notified by Ministry of Corporate Affairs (MCA) w.e.f. 26th December, 2016 and Rule 87A of the National Company Law Tribunal (NCLT) (Amendment) Rules, 2017 as notified by MCA w.e.f. 5th July, 2017, I have […]...

Read More
Posted Under: Company Law |

National Company law tribunal (NCLT) and Important role for PCS

Government has Constituted 11 Benches of NCLT, out of which 2 will be the Principal Bench, which shall be Preside at New Delhi.And the regional bench territory authority is in Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai....

Read More
Posted Under: Company Law |

Reduction of Share Capital under Companies Act, 2013 and NCLT Rules, 2016

Section 66 which is the governing provision for Reduction of Share Capital of a company is one amongst those sections notified on 07th December, 2016. Immediately, thereafter, MCA has further, notified the National Company Law Tribunal (Procedure for Reduction of Share Capital of Company) Rules, 2016 on 15th December, 2016....

Read More
Posted Under: Company Law |

National Company Law Appellate Tribunal (Amendment) Rules, 2017

G.S.R. 1061(E). (23/08/2017)

“63. Appearance of authorised representative.- (1) Subject to provisions of section 432 of the Act, a party to any proceedings or appeal before the Appellate Tribunal may either appear in person or authorise one or more chartered accountants or company secretaries or cost accountants or legal practitioners or any other person to present...

Read More

How to revive a company as per new NCLT amendment rules

High percentage of non-compliance of the Companies Act and Rules, the Ministry of Corporate Affairs (MCA) with Registrar of Companies (ROC) had issued show cause notices to various companies. After that various companies received notice regarding removal of name of a company from the register of companies as per sub section (1) of section...

Read More
Posted Under: Company Law |

Snippet on taxability of capital reduction

Capital reduction is a commonly adopted tool by companies for re-engineering their capital structure. The need for reducing share capital may arise owing to a number of reasons, such as returning excess funds to the shareholders, adjustment of accumulated losses, minority squeeze out, improving EPS, producing a more efficient capital stru...

Read More
Posted Under: Company Law |

Employees can approach NCLT for recovery of dues under IBC, 2016

In general parlance, if we consider our global business, it is the fusion of Assets and Liabilities which generates the revenue or surplus or profit, whatever may be terms but finally ends up with one five letter word MONEY for the company....

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Posted Under: Company Law |

Revival of ‘Struck’ Companies under Companies Act, 2013

In this Flash editorial, the author begins by referring the provisions of section 248(1) of Companies Act, 2013 relating to Power of Registrar to remove name of company from register of companies and provisions of section 252 relating to REVIVAL OF COMPANIES STRUCK off from the record of the Registrar....

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Posted Under: Company Law |

Revival/ Restoration of Struck -Off Companies U/S 252 By NCLT

In this article, it is specifically discussed about the Revival/ Restoration of Struck off Companies under section 248 of the Companies Act (the Act) under Section 252 of the Companies Act, 2013 read with National Company Law Tribunals Rules, 2016 (As amended till 05-07-2017) by making an appeal to Tribunal....

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Posted Under: Company Law |

National Company Law Tribunal (NCLT) (Amendment) Rules, 2017

G.S.R. ___ (E) (05/07/2017)

"87A. Appeal or application under sub-section (1) and sub-section (3) of section 252. - (1) An appeal under sub-section (1) or an application under sub-section (3) of section 252, may be filed before the Tribunal in Form No. NCLT. 9, with such modifications as may be necessary....

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