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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 […]...
Read MoreCompany 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....
Read MoreCompany 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....
Read MoreCompany 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...
Read MoreCompany 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...
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 MoreRe. 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...
Read MoreParker 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....
Read MoreRe. 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....
Read MoreTeamasia 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....
Read MoreRe. 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...
Read MoreG.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...
Read MoreG.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....
Read MoreNA - (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....
Read MoreNo.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...
Read MoreG.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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G.S.R. 1061(E). - (23/08/2017) -
G.S.R. ___ (E) - (05/07/2017) -
