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Company Law : As we all knows that Central Government notified NCLT Rules, 2016 on 21st of July, 2016 through notification in the official gazet...
Company Law : As per section 96 of CA, 2013, every Company (other than OPC) shall hold a general meeting annually (exclusive of any other meetin...
Company Law : Committee on review of penal provisions of Company Act 2013 submits final report to Shri Arun Jaitley. Recommends Restructuring of...
Company Law : The Ministry of Corporate Affairs Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appe...
Company Law : The Government has said that it proposes to set up a ‘National Company Law Tribunal’ to consolidate the powers and jurisdictio...
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Company Law : To set up a Company Law Tribunal without further delay, the Ministry of Corporate Affairs has begun consultations to make the nece...
Corporate Law : Held that a statutory institution like CoC which is in most of the cases represented by public financial institutions is expected ...
Income Tax : From the report there does not appear any request of the Resolution Professional for issuance of the instructions for the purpose ...
Corporate Law : The Tribunal held that in the absence of any power of recall or review being available to the Tribunal, the present case at hand d...
Company Law : Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared th...
Corporate Law : This is the case, where despite moratorium order, Municipal Authorities have sealed the Corporate Office/Registered Office of the ...
Corporate Law : Filling up of the posts in the National Company Law Appellate Tribunal on deputation basis. The National Company Law Appellate Tri...
Company Law : President, National Company Law Tribunal hereby constitutes the following Benches for the purpose of exercising and discharging th...
Company Law : Central Government hereby constitutes the National Company Law Tribunal, Kochi Bench at Kochi and for the said purpose hereby make...
Income Tax : The undersigned is directed to say that by virtue of implementation of Insolvency & Bankruptcy Code (IBC) 2016 after the repeal of...
Company Law : Board has decided that request/appeal for restoration of name of the 'struck off' company with retrospective date from the date of...
Govt constitutes National Company Law Appellate Tribunal (NCLAT) for hearing appeals against orders of National Company Law Tribunal (NCLT).
Central Government hereby constitutes the National Company Law Tribunal to exercise and discharge the powers and functions as are, or may be, conferred on it by or under the said Act with effect from the 1st day of June, 2016.
It has been more than 15 years that we first heard about National Company Law Tribunal [NCLT] & National Company Law Appellate Tribunal [NCLAT]. Way back in 2001. Why did it take so long for a body like this to be a reality? Why did it not see any light of the day so far? What caused the delay?
The Companies (Second Amendment) Act, 2002 had provided for the setting up of a NCLT and Appellate Tribunal to replace the existing Company Law Board and Board for Industrial and Financial Reconstruction. NCLT would be dealing in various matters pertaining to winding up of Companies, Revival and Restructuring which presently hitherto falls under the jurisdiction of High Court and BIFR respectively.
MADRAS BAR ASSOCIATION Vs. UNION OF INDIA & ANR. (Supreme Court) The petitioner felt aggrieved by that part of the judgment vide which establishments of NCLT and NCLAT was held to be Constitutional.
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.
The National Company Law Tribunal (NCLT) was expected to take over the role of the High Court (in dealing with company law matters such as sanctioning of schemes of arrangement, ordering winding up of companies, dealing with petitions for oppression and mismanagement and the like), the Company Law Board (CLB) and the Board of Industrial and Financial Reconstruction (BIFR) for speedy disposal of aforesaid matters and avoid multiplicity of litigation before various fora.
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 question in the Lok Sabha today Shri Salman Khurshid, Minister of Corporate Affairs,
I am very happy to see the judgment of the Supreme Court on National Company Law Tribunal. I have read the judgment of Justice Jayasimha Babu of Madras High Court regarding the constitution of National Company Law Tribunal and Appellate Tribunal in the Writ Petition preferred by Madras Bar Association many times.
The Corporate Affairs Ministry has termed the Supreme Court verdict disallowing civil servants belonging to the Indian Corporate Law Service (ICLS) from being members of the proposed National Company Law Tribunal (NCLT) as “disappointing.” The Ministry indicated that the matter may go back to a Constitution Bench of the apex court for a review.
