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What does NCLT stand for?
What is NCLT (National Company Law Appellate Tribunal)?
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The Central Government has constituted National Company Law Tribunal (NCLT) under section 408 of the Companies Act, 2013 (18 of 2013) w.e.f. 01st June 2016. In the first phase the Ministry of Corporate Affairs have set up eleven Benches, one Principal Bench at New Delhi and one each Regional Benches at New Delhi, Ahmedabad, Allahabad, Bengaluru ...
Sep 7, 2018 · Hence the (NCLT) is a part of the Companies Act, 2013 which replaces the Company Law Board (CLB). National Company Law Appellate Tribunal (‘NCLAT’) was constituted as the Appellate Authority under the Code. The mandate of the NCLT is to enforce the insolvency code.
The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian companies. [1] The tribunal, established under the Companies Act 2013, was constituted on 1 June 2016 by the government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the ...
Sr.noNameDesignationDate Of Joining1Chief Justice (Retd) Ramalingam SudhakarPresident01-11-20212Shyam Babu GautamMember03-07-20193Patibandla Satyanarayana PrasadMember04-07-20194Venkata Subba Rao HariMember04-07-2019- Registration of Companies
- Transfer of Shares
- Deposits
- Power to Investigate
- Freezing Assets of A Company
- Converting A Public Limited Company Into A Private Limited Company
The new Companies Act, 2013 has enabled questioning the legitimacy of companies because of specific procedural errors during incorporation and registration. NCLT has been empowered in taking several steps, from cancelling the registration of a company to dissolving any company. The Tribunal could even render the liability or charge of members to un...
NCLT is also empowered to hear grievances of rejection of companies in transferring shares and securities and under section 58- 59 of the Act which were at the outset were under the purview of the Company Law Board. Going back to Companies Act, 1956 the solution available for rejection of transmission or transfer were limited only to the shares and...
The Chapter V of the Act deals with deposits and was notified several times in 2014 and Company Law Board was the prime authority for taking up the cases under said chapter. Now, such powers under the chapter V of the Act have been vested with NCLT. The provisions with respect to the deposits under the Companies Act, 2013 were notified prior to the...
As per the provision of the Companies Act, 2013 investigation about the affairs of the company could be ordered with the help of an application of 100 members whereas previously the application of 200 members was needed for the same. Moreover, if a person who isn’t related to a company and is able to persuade NCLT about the presence of conditions f...
The NCLT isn’t just empowered to freezing the assets of a company for using them at a later stage when such company comes under investigation or scrutiny, such investigation could also be ordered on the request of others in specific conditions.
Sections 13-18 of the Companies Act, 2013 read with rules control the conversion of a Public limited company into the Private limited company, such conversion needs an erstwhile confirmation from the NCLT. NCLT has the power under section 459 of the Act, for imposing specific conditions or restrictions and might subject granting approvals to such c...
Jul 13, 2016 · The National Company Law Tribunal or NCLT is a quasi-judicial body in India adjudicating issues concerning companies in the country. It was formed on June 1, 2016, as per the provisions of the Companies Act 2013 (Section 408) by the Indian government.
- As the NCLT is established under the Companies Act, 2013 , it has the role to settle disputes in relation to the companies. It also handles the str...
- Chief Justice (Rtd.) Shri M M Kumar is the president of the NCLT principal bench.
- Tribunal is the Quasi-judicial body with the power to try cases of special matter which are conferred on them by statutes. The court is a part of t...
NCLT is a quasi-judicial authority incorporated for dealing with corporate disputes that are of civil nature arising under the Companies Act. Objectives. Initiated before the Company Law Board under the previous act (the Companies Act 1956)
Jun 12, 2024 · What is National Company Law Tribunal. The National Company Law Tribunal is a quasi-judicial body established to resolve disputes arising in Indian companies. The NCLT was formed based on recommendations from the Justice Eradi Committee of the Central Government of India. It focuses on laws concerning the insolvency and winding up of companies.
