Bharat National Company Law Appellate Tribunal Practice & Procedure By Ajay Kumar Edition July 2022

Bharat National Company Appellate Tribunal Practice Procedure

Bharat National Company Appellate Tribunal Practice Procedure

Description

The Companies Act, 2013, has finally introduced provisions for setting up of new Tribunal, namely, National Company Law Tribunal (NCLT). As per the new provisions, certain powers of High Court relating to merger, amalgamation, reduction of capital and winding up of companies, all matters relating to revival & rehabilitation of sick companies with Board for Industrial and Financial Reconstruction and all powers of Company Law Board along with certain new powers have now been vested in the National Company Law Tribunal. The powers relating to Insolvency matters in respect of corporate persons have also been ?vested in NCLT by virtue of passing of Insolvency and Bankruptcy Code, 2016. The appellate poers in relation to matters within the jurisdiction of National Company Law Tribunal have been vested in National Company Law Appellate Tribunal (NCLAT). The National Company Law Tribunal and the National Company Law Appellate Tribunal have been constituted w.e.. 1-6-2016 and the Company Law Board stands dissolved w.e.f. the said date. In the first phase, all powers of Company Law Board alongwith some new powers have been vested within the jurisdiction of NCLT to start functioning. The Appellate powers in respect of the aforesaid matter have been vested in the National Company Law . App’ellate Tribunal,. Since rules regarding amalgamation, merger, windin!i .1jP, reduction of capital and insolvency matters are under preparation the said Tribunals will exercise those powers in second phase from the date to be notified in future .

About the Author

Mr. Ajay Kumar, B.Com (Hons), L.L.B, FCS and ACIS (UK), author of the Book, is a well known Practising Company Secretary for the last 18 years. Before starting his practice as Company Secretary he had earlier worked as Assistant Registrar of Customs, Excise and Service Tax Appellate Tribunal, Mumbai, Bench Officer of Board for Industrial and Financial Reconstruction (BIFR), New Delhi, Assistant Registrar of Companies (ROC), Mumbai and Bench Officer of Company Law Board (CLB), Mumbai Bench