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COMPANIES ACT 2013 > Chapter XXVII - NCLT AND NCLAT > Flashcards

Chapter XXVII - NCLT AND NCLAT Flashcards

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1
Q

Section 407 of Companies Act 2013

A

Job description of NCLT and NCLAT

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2
Q

What is the National Company Law Tribunal (NCLT)?

A

The National Company Law Tribunal (NCLT) is a tribunal established by the Central Government of India to adjudicate matters related to company law.

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3
Q

How is the NCLT constituted?

A

The NCLT is constituted by a notification issued by the Central Government. It consists of a President, and a number of Judicial and Technical Members deemed necessary by the government. All members are appointed by the Central Government through a notification.

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4
Q

What is the qualification for the President of the NCLT?

A

The President must be someone who has served as a High Court Judge for at least five years.

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5
Q

Who is qualified to be appointed as a Judicial Member of the NCLT?

A

A person can be appointed as a Judicial Member if they meet one of the following criteria:
A current or former High Court Judge
A District Judge with a minimum of five years of experience
An advocate with at least ten years of experience
Explanation: The ten years of experience as an advocate can include time spent holding judicial office, working as a tribunal member, or holding a legal position requiring special knowledge acquired after becoming an advocate.

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6
Q

What are the qualifications for a Technical Member of the NCLT?

A

A person can be appointed as a Technical Member if they meet one of the following criteria:
A member of the Indian Corporate Law Service or Indian Legal Service for at least 15 years, with at least 3 years in a senior position (Joint Secretary pay scale or equivalent)
A chartered accountant with at least 15 years of practice experience
A cost accountant with at least 15 years of practice experience
A company secretary with at least 15 years of practice experience
A person with demonstrably strong abilities, integrity, and relevant experience (minimum 15 years) in law, finance, management, industrial reconstruction, investment, accounting, labor matters, or other disciplines related to company management, operations, revival, rehabilitation, or winding up.
A person who has served as a presiding officer of a Labour Court, Tribunal, or National Tribunal under the Industrial Disputes Act, 1947 for at least five years.

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7
Q

What does Section 409 of the Companies Act, 2013 specify?

A

eligibility requirements for the President and Members (both Judicial and Technical) of the National Company Law Tribunal (NCLT). It ensures the NCLT is staffed with qualified individuals with extensive experience in law, finance, or relevant fields.

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8
Q

What is the composition of the National Company Law Appellate Tribunal (NCLAT)?

A

The NCLAT consists of a Chairperson and a maximum of eleven Judicial and Technical Members appointed by the Central Government.

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9
Q

What is the function of the NCLAT?

A

The NCLAT hears appeals against orders passed by the National Company Law Tribunal (NCLT).

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10
Q

What does Section 410 of the Companies Act, 2013 deal with?

A

empowers the Central Government to establish the National Company Law Appellate Tribunal (NCLAT) to hear appeals arising from orders passed by the National Company Law Tribunal (NCLT).

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11
Q

What is the qualification for the Chairperson of the NCLAT?

A

The Chairperson must be someone who currently holds or has previously held the position of a Judge in the Supreme Court or a Chief Justice of a High Court.

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12
Q

Who is qualified to be appointed as a Judicial Member of the NCLAT?

A

A person can be appointed as a Judicial Member if they are:
A current or former Judge of a High Court
A Judicial Member of the NCLT with at least five years of experience

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13
Q

What are the qualifications for a Technical Member of the NCLAT?

A

Proven ability, integrity, and strong standing
At least 25 years of experience with special knowledge in:
Law
Industrial finance
Industrial management or administration
Industrial reconstruction
Investment
Accountancy
Labor matters
Or other relevant disciplines related to company management, operations, revival, rehabilitation, or winding up

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14
Q

What does Section 411 of the Companies Act, 2013 specify?

A

eligibility requirements for the Chairperson and Members (both Judicial and Technical) of the National Company Law Appellate Tribunal (NCLAT).

It ensures the NCLAT is staffed with highly qualified individuals with extensive experience in law, finance, or relevant fields to effectively handle appeals from the NCLT.

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15
Q

How are the President of the NCLT, Chairperson, and Judicial Members of the NCLAT chosen?

A

These appointments are made after consulting with the Chief Justice of India.

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16
Q

How are the remaining Members of the NCLT and Technical Members of the NCLAT chosen?

A

These appointments are made based on the recommendation of a Selection Committee

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17
Q

Who is on the Selection Committee for NCLT & NCLAT Members (other than President, Chairperson & Judicial Members)?

A

Chairperson: Chief Justice of India or their nominee
Member: A senior Judge of the Supreme Court or a Chief Justice of a High Court
Member: Secretary in the Ministry of Corporate Affairs
Member: Secretary in the Ministry of Law and Justice
Member: Secretary in the Department of Financial Services in the Ministry of Finance

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18
Q

Who convenes the Selection Committee meetings?

A

The Secretary of the Ministry of Corporate Affairs acts as the Convener.

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19
Q

Are there specific details about the Selection Committee’s procedure for recommending candidates?

A

The Act allows the Selection Committee to determine its own procedure for recommending candidates.

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20
Q

What does Section 412 of the Companies Act, 2013 deal with?

A

the selection process for the President, Chairperson, Members, and Technical Members of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT)

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21
Q

What is the term and re-appointment eligibility for the President and other Members of the NCLT?

A

The President and all Members serve a five-year term from their start date. They can be re-appointed for another five years.

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22
Q

What is the age limit for the President and other Members of the NCLT?

A

The President can serve until age 67.
Other Members can serve until age 65.
There’s a minimum age requirement of 50 years for appointment.

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23
Q

What is the term and re-appointment eligibility for the Chairperson and other Members of the NCLAT?

A

The Chairperson and all Members serve a five-year term from their start date. They can be re-appointed for another five years.

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24
Q

What is the age limit for the Chairperson and other Members of the NCLAT?

A

he Chairperson can serve until age 70.
Other Members can serve until age 67.
There’s a minimum age requirement of 50 years for appointment.

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25
Q

Can NCLT/NCLAT Members retain a connection with their previous positions?

A

Yes, NCLT/NCLAT Members can retain a lien (maintain a claim to a position) with their previous ministry, department, or cadre for up to one year while serving in the Tribunal/Appellate Tribunal.

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26
Q

What does Section 413 of the Companies Act, 2013 specify?

A

This section lays out the term lengths, re-appointment eligibility, and age limits for the President, Chairperson, Members, and Technical Members of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

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27
Q

What is Section 414 of the Companies Act, 2013?

A

A section of Indian law outlining the framework for determining the salary, allowances, and other terms of service for members of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

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28
Q

How are salaries and allowances determined for NCLT and NCLAT members?

A

These are prescribed (set) by the Indian government.

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29
Q

Can the conditions of service for NCLT and NCLAT members be changed after their appointment?

A

Yes, but changes cannot be made to their disadvantage (i.e., they cannot receive reduced salaries, allowances, or less favorable terms).

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30
Q

What is Section 415 of the Companies Act, 2013?

A

This section addresses the procedures for appointing acting officials within the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) in case of vacancy or absence of the President or Chairperson.

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31
Q

Under Section 415, what happens if the office of the NCLT/NCLAT President or Chairperson becomes vacant?

A

The senior-most Member of the respective Tribunal will act as the President or Chairperson until a new official is appointed according to the provisions of the Companies Act, 2013.

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32
Q

According to Section 415, what happens if the NCLT/NCLAT President or Chairperson is temporarily unable to perform their duties?

A

The senior-most Member takes over as acting President or Chairperson until the incumbent resumes their duties.

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33
Q

What is the difference between “vacancy” and “absence” as the terms might be used in Section 415?

A

“Vacancy” implies a permanent opening in the position (death, resignation). “Absence” suggests a temporary inability to fulfill duties (illness, leave).

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34
Q

What does Section 416 of the Companies Act, 2013 address?

A

It outlines the process and conditions for the resignation of the President, Chairperson, or any Member of the National Company Law Tribunal (NCLT) or National Company Law Appellate Tribunal (NCLAT).

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35
Q

How does a member of the NCLT or NCLAT officially resign according to Section 416?

A

They must submit a written notice of resignation addressed to the Indian Central Government

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36
Q

After submitting a resignation notice under Section 416, does the resigning NCLT/NCLAT official leave their post immediately?

A

No. They remain in office for the earliest of these three conditions:
Three months after the Central Government receives the notice
A successor is appointed and takes over
Their original term of office ends

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37
Q

Section 417, Companies Act, 2013

A

Deals with the Removal of Members (President, Chairperson, or any Member) of the National Company Law Tribunal (NCLT)

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38
Q

Grounds for Removal of NCLT Members (under Section 417, Subsection 1)

A

Adjudged insolvent
Convicted of an offense involving moral turpitude
Physically or mentally incapable
Acquired financial/other interest affecting their functions
Abused position in a way detrimental to public interest

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39
Q

Can an NCLT member be removed without being heard?

A

No. The proviso in Section 417 (1) mandates a reasonable opportunity for the member to be heard before removal on grounds specified in clauses (b) to (e).

After consultation with CJI

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40
Q

Procedure for removal on grounds of misbehavior or incapacity? (Section 417, Subsection 2)

A

Central Government makes an order for removal.
Inquiry by a Supreme Court Judge (nominated by Chief Justice of India).
The member is informed of charges and given a chance to be heard.

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41
Q

Can an NCLT member be suspended during an inquiry?

A

Yes. Section 417 (3) allows suspension by the Central Government with the concurrence of the Chief Justice of India, pending the outcome of the inquiry.

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42
Q

Responsibility for Regulating Inquiry Procedure for NCLT Member Removal (Misbehaviour/Incapacity)

A

Central Government, after consultation with the Supreme Court, makes rules to regulate the procedure for the inquiry.

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43
Q

Section 418, Companies Act, 2013

A

Deals with the staff of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

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44
Q

Who provides staff to the NCLT and NCLAT?

A

The Central Government, in consultation with the NCLT and NCLAT, provides necessary officers and employees.

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45
Q

Under whose supervision do NCLT and NCLAT staff work?

A

Under the general superintendence and control of:
The President (of the NCLT)
The Chairperson (of the NCLAT)
Any other Member to whom such powers are delegated

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46
Q

Who determines salaries, allowances, and conditions of service for NCLT and NCLAT staff?

A

The Central Government (as may be prescribed by rules).

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47
Q

Section 419, Companies Act, 2013

A

Deals with the composition and structure of Benches within the National Company Law Tribunal (NCLT)

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48
Q

Who determines the number of NCLT Benches? (Section 419(1))

A

The Central Government, by notification.

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49
Q

where is the Principal Bench of the NCLT located, and who presides over it? (Section 419(2))

A

Location: New Delhi.
Presiding officer: The President of the Tribunal.

50
Q

What is the standard composition of an NCLT Bench? (Section 419(3))

A

Two Members:
One Judicial Member
One Technical Member

51
Q

Can a single Judicial Member of the NCLT function as a Bench? (Section 419(3))

A

Yes, under these conditions:
Authorized by the President
For a specific class of cases or matters, as determined by the President

52
Q

When can a case be transferred to a two-member Bench? (Section 419(3))

A

If a single Judicial Member determines a case warrants the expertise of a full two-member Bench, the case can be transferred by the President.

53
Q

What is the composition of Special Benches of the NCLT? (Section 419(4))

A

Three or more Members
Majority must be Judicial Members
Focus on cases of company rehabilitation, restructuring, and revival

54
Q

How many Special Benches can be constituted in NCLT? (Section 419(4))

A

one or more

55
Q

What happens if Members of a Bench are equally divided in opinion? (Section 419(5))

A

They state the points of disagreement.
The President refers the case to one or more other Members for a majority decision.

56
Q

Section 420, Companies Act, 2013

A

Deals with the Orders of the National Company Law Tribunal (NCLT)

57
Q

What power does the NCLT have in regards to issuing orders? (Section 420(1))

A

The NCLT can pass any order it thinks fit after giving all parties involved in a proceeding a reasonable chance to be heard.

58
Q

Can the NCLT amend its own orders? (Section 420(2))

A

Yes, within two years of the original order, the NCLT can amend it to rectify any mistakes apparent from the record.

59
Q

Under what circumstances can the NCLT amend a previous order? (Section 420(2))

A

The amendment must be made within two years of the original order.
The mistake to be rectified must be apparent from the record.
The parties to the case must bring the mistake to the NCLT’s notice.
if an appeal against that order has already been filed under the Companies Act, 2013.

60
Q

What is the NCLT obligated to do after passing an order? (Section 420(3))

A

he NCLT must send a copy of the order to all parties concerned with the case.

61
Q

Section 421, Companies Act, 2013

A

Deals with appeals against orders made by the National Company Law Tribunal (NCLT)

62
Q

Who can file an appeal against an NCLT order? (Section 421(1))

A

Any person aggrieved (i.e., negatively affected) by an order of the NCLT.

63
Q

Where are appeals against NCLT orders filed? (Section 421(1))

A

With the National Company Law Appellate Tribunal (NCLAT)

64
Q

Are there any types of NCLT orders that cannot be appealed? (Section 421(2))

A

Yes, orders made by the NCLT with the consent of all parties involved cannot be appealed.

65
Q

What is the standard deadline for filing an appeal against an NCLT order? (Section 421(3))

A

45 days from the date a copy of the order is made available to the aggrieved person.

66
Q

Can the NCLAT accept an appeal filed after the deadline? (Section 421(3))

A

Yes, potentially. If the NCLAT is satisfied that the appellant had “sufficient cause” for the delay, they can accept the appeal within a further period not exceeding 45 days.

67
Q

What powers does the NCLAT have when hearing an appeal? (Section 421(4

A

After giving all parties a chance to be heard, the NCLAT can:
Confirm the NCLT order
Modify the NCLT order
Set aside (cancel) the NCLT order

68
Q

What does the NCLAT do after making a decision on an appeal? (Section 421(5))

A

The NCLAT sends a copy of its order to the NCLT and all the parties involved in the appeal.

69
Q

Section 422, Companies Act, 2013

A

Deals with the expeditious disposal of cases by the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

70
Q

What is the primary obligation of the NCLT and NCLAT in regards to handling cases? (Section 422(1))

A

They must deal with and dispose of applications, petitions, and appeals as quickly as possible.

71
Q

What is the target timeframe for the NCLT and NCLAT to dispose of cases? (Section 422(1))

A

The goal is to dispose of each case within three months of its presentation or filing.

72
Q

What happens if the NCLT or NCLAT cannot dispose of a case within the three-month target? (Section 422(2))

A

They must record the reasons for the delay.
The President (NCLT) or Chairperson (NCLAT) may extend the timeframe by up to 90 days after considering these reasons.

73
Q

Section 423, Companies Act, 2013

A

Deals with appeals to the Supreme Court of India against orders made by the National Company Law Appellate Tribunal (NCLAT).

74
Q

Who can appeal an NCLAT order to the Supreme Court? (Section 423)

A

Any person aggrieved (i.e., negatively affected) by an order of the NCLAT

75
Q

What is the basis for appealing an NCLAT order to the Supreme Court? (Section 423)

A

The appeal must be based on a question of law arising from the NCLAT order.

76
Q

What is the standard deadline for filing an appeal against an NCLAT order with the Supreme Court? (Section 423)

A

60 days from the date the aggrieved person receives a copy of the NCLAT order.

77
Q

Can the Supreme Court accept an appeal filed after the deadline? (Section 423)

A

Yes, potentially. If the Supreme Court is satisfied that the appellant had “sufficient cause” for the delay, they can accept the appeal within a further period not exceeding 60 days.

78
Q

Section 424, Companies Act, 2013

A

Deals with the procedures followed by the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

79
Q

Is the NCLT/NCLAT bound by the strict procedures of India’s Civil Procedure Code? (Section 424(1))

A

No. They are guided by principles of natural justice and can regulate their own procedures within the framework of the Companies Act and any relevant rules.

80
Q

What powers do the NCLT and NCLAT have to carry out their functions? (Section 424(2))

A

They have the same powers as a civil court trying a suit, including:
Summoning and examining witnesses on oath
Requiring the production of documents
Receiving evidence on affidavits
Requisitioning public records (subject to certain limitations)
Issuing commissions for examining witnesses or documents
Dismissing cases for default or deciding them ex parte (without one party present)
Setting aside ex parte orders or orders of dismissal

81
Q

How are orders made by the NCLT or NCLAT enforced? (Section 424(3))

A

The NCLT/NCLAT can enforce its orders like a court decree.
Orders are sent for execution to the court within whose jurisdiction:
The company’s registered office is located (for orders against companies)
The affected person resides, carries on business, or works (for orders against individuals)

82
Q

What is the legal status of proceedings before the NCLT and NCLAT? (Section 424(4))

A

They are considered judicial proceedings (important for perjury, contempt of court, etc.)
The NCLT and NCLAT are deemed civil courts for specific sections of the Indian Penal Code 1860 and the Code of Criminal Procedure 1973.

83
Q

Section 425, Companies Act, 2013

A

Deals with the power of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) to punish for contempt of court.

84
Q

What level of power do the NCLT and NCLAT have regarding contempt of court? (Section 425)

A

They have the same jurisdiction, powers, and authority as a High Court in India.

85
Q

Which law specifically governs the NCLT and NCLAT’s contempt powers? (Section 425)

A

The Contempt of Courts Act, 1971, with certain modifications:
References to “High Court” include the NCLT/NCLAT.
References to the “Advocate-General” are replaced with Law Officers designated by the Central Government.

86
Q

Section 426, Companies Act, 2013

A

Deals with the delegation of powers by the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

87
Q

Can the NCLT and NCLAT delegate their powers? (Section 426)

A

Yes, they can delegate powers by general or special order.

88
Q

To whom can the NCLT/NCLAT delegate powers? (Section 426)

A

Their officers
Their employees
Any other person authorized by them

89
Q

What kind of tasks can the NCLT/NCLAT delegate? (Section 426)

A

Tasks involving inquiring into matters connected with proceedings or appeals before them.

90
Q

Are there any conditions the NCLT/NCLAT can impose when delegating powers? (Section 426)

A

Yes, they can specify conditions within the general or special order of delegation.

91
Q

What are the reporting requirements after a task is delegated? (Section 426)

A

The delegate must report back to the NCLT/NCLAT in the manner specified within the order of delegation

92
Q

Section 427, Companies Act, 2013

A

Defines the legal status of key personnel within the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

93
Q

Are NCLT/NCLAT personnel considered public servants under Indian law? (Section 427)

A

Yes. The President, Members, officers, and other employees of both the NCLT and NCLAT are deemed public servants under Section 21 of the Indian Penal Code.

94
Q

Section 428, Companies Act, 2013

A

Deals with legal protection for actions taken in good faith by NCLT/NCLAT personnel and others authorized under the Act.

95
Q

Can legal action be taken against NCLT/NCLAT personnel for actions taken in good faith under the Companies Act? (Section 428)

A

No. They are protected from suits, prosecutions, or other legal proceedings.

96
Q

Who is protected under Section 428?

A

NCLT: President, Members, officers, other employees
NCLAT: Chairperson, Members, officers, other employees
Liquidators authorized by NCLT/NCLAT
Other persons authorized by NCLT/NCLAT

97
Q

What type of actions are protected under Section 428?

A

Actions done or intended to be done in good faith while carrying out duties under the Companies Act.

98
Q

Under what circumstances does Section 428 protection a

A

Protection applies regarding loss or damage caused (or likely to be caused) by actions taken in good faith under the Companies Act.

99
Q

Section 429, Companies Act, 2013

A

Deals with the power of the National Company Law Tribunal (NCLT) to seek assistance from law enforcement in seizing property or documents related to a sick or winding-up company

100
Q

Under what circumstances can the NCLT seek assistance from law enforcement? (Section 429(1))

A

In proceedings related to:
A sick company
The winding up (liquidation) of a company

101
Q

What kind of assistance can the NCLT request? (Section 429(1))

A

To take into custody or control:
Property belonging to the company
Company’s books of account
Other company documents

102
Q

: To whom does the NCLT address its request for assistance? (Section 429(1))

A

To the following, depending on jurisdiction:
Chief Metropolitan Magistrate
Chief Judicial Magistrate
District Collector

103
Q

What actions must the law enforcement official take upon receiving the NCLT’s request? (Section 429(1))

A

Take possession of the specified property, accounts, or documents.
Entrust them to the NCLT or a person authorized by the NCLT.

104
Q

Can the law enforcement official use force to secure the property or documents? (Section 429(2))

A

Yes, if deemed necessary in their opinion to ensure compliance with the NCLT’s request.

105
Q

Can actions taken by officials under Section 429 be challenged? (Section 429(3))

A

No, they cannot be challenged in any court or before any authority

106
Q

Section 430, Companies Act, 2013

A

Deals with the restriction of jurisdiction of civil courts in matters related to the Companies Act.

107
Q

Can civil courts handle cases that the NCLT or NCLAT have the authority to decide? (Section 430)

A

No. Civil courts do not have jurisdiction over matters specifically within the purview of the NCLT/NCLAT under the Companies Act or other relevant laws.

108
Q

Can a civil court issue an injunction to stop actions taken by the NCLT/NCLAT under the Companies Act? (Section 430)

A

No. Courts or other authorities cannot grant injunctions to interfere with the NCLT/NCLAT’s actions carried out under the powers granted by the Companies Act or other applicable laws.

109
Q

Section 431, Companies Act, 2013

A

Deals with the principle that vacancies or defects in the NCLT or NCLAT do not automatically invalidate their actions or proceedings.

110
Q

Can the validity of an act or proceeding of the NCLT/NCLAT be challenged solely due to vacancies or flaws in their formation? (Section 431)

A

No. Vacancies or constitutional defects alone are not sufficient grounds to invalidate NCLT/NCLAT actions.

111
Q

Section 432, Companies Act, 2013

A

Deals with the right to legal representation before the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NC

112
Q

Can parties involved in NCLT or NCLAT proceedings represent themselves? (Section 432)

A

Yes, they can appear in person.

113
Q

What professionals are authorized to represent parties before the NCLT or NCLAT? (Section 432)

A

Chartered Accountants
Company Secretaries
Cost Accountants
Legal Practitioners (Lawyers)

114
Q

Can a party to a proceeding before the NCLT/NCLAT authorize someone other than the specified professionals to represent them? (Section 432)

A

Yes, the NCLT or NCLAT may permit other individuals to represent a party.

115
Q

Section 433, Companies Act, 2013

A

Deals with the application of the Limitation Act, 1963 to proceedings before the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).

116
Q

Do time limits under the Limitation Act, 1963 apply to NCLT and NCLAT proceedings? (Section 433)

A

Yes, the general principles of the Limitation Act apply “as far as may be.” This means limitation periods are considered, but there might be specific adaptations for NCLT/NCLAT proceedings.

117
Q

Section 434, Companies Act, 2013

A

Outlines the transfer of pending proceedings from the Company Law Board, District Courts, and High Courts to the National Company Law Tribunal (NCLT). Also deals with the abatement of cases pending before industrial reconstruction bodies.

118
Q

What happens to cases pending before the Company Law Board (CLB) upon commencement of the Companies Act, 2013? (Section 434(1)(a))

A

They are automatically transferred to the NCLT, which will continue them under the provisions of the Companies Act, 2013.

119
Q

Can a person appeal a CLB decision made before the commencement of the Companies Act, 2013? (Section 434(1)(b))

A

Yes, they can appeal to the High Court within 60 days (extendable by a further 60 days if sufficient cause for delay is shown). The appeal can only be on questions of law.

120
Q

What happens to pending company law cases (arbitration, compromise, reconstruction, winding up) in District Courts or High Courts? (Section 434(1)(c))

A

They are transferred to the NCLT, which will handle them from the stage they were at before the transfer.

121
Q

What happens to certain types of proceedings pending before industrial reconstruction bodies? (Section 434(1)(d)

A

They stand abated (canceled). However, companies involved in these proceedings can make a reference to the NCLT under the Companies Act, 2013, within 180 days, and no fees will be charged.

122
Q

Can the Central Government make rules regarding the transfer process? (Section 434(2))

A

Yes, they can make rules to ensure the timely and smooth transfer of pending cases from the Company Law Board and courts to the NCLT.

COMPANIES ACT 2013 (3 decks)

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