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NCLT
The National Company Law Tribunal is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The tribunal was established under the Companies Act 2013 and 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 insolvency and the winding up of companies. All proceedings under the Companies Act, including proceedings relating to arbitration, compromise, arrangements, reconstructions and the winding up of companies shall be disposed off by the National Company Law Tribunal. The NCLT bench is chaired by a Judicial member who is supposed to be a retired or a serving High Court Judge and a Technical member who must be from the Indian Corporate Law Service, ICLS Cadre. The National Company Law Tribunal is the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankruptcy Cod ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency And Bankruptcy Code, 2016
The Insolvency and Bankruptcy Code, 2016 (IBC) is an Indian law which creates a consolidated framework that governs insolvency and bankruptcy proceedings for companies, partnership firms, and individuals. Background Prior to the IBC, the legislative framework for insolvency and restructuring was fragmented across multiple legislations, such as the Companies Act 2013, the Sick Industrial Companies (Special Provisions) Act, 1985, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Recovery of Debts due to Banks and Financial Institutions Act (RDDBFI Act), 1993, and others. History On 22 August 2014, the Ministry of Finance created the Bankruptcy Legislative Reforms Committee (BLRC). The committee was headed by T. K. Viswanathan T. K. Viswanathan (born 14 October 1948) is the Secretary General of the 15th Lok Sabha and Lok Sabha Secretariat, Parliament of India, i.e. the House of the People in the Indian Parl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company Law Board
The National Company Law Tribunal is a quasi-judicial body in India that adjudicates issues relating to Indian companies. The tribunal was established under the Companies Act 2013 and 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 insolvency and the winding up of companies. All proceedings under the Companies Act, including proceedings relating to arbitration, compromise, arrangements, reconstructions and the winding up of companies shall be disposed off by the National Company Law Tribunal. The NCLT bench is chaired by a Judicial member who is supposed to be a retired or a serving High Court Judge and a Technical member who must be from the Indian Corporate Law Service, ICLS Cadre. The National Company Law Tribunal is the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankrupt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board For Industrial And Financial Reconstruction
The Board for Industrial and Financial Reconstruction (BIFR) was a development finance institution under the ownership of Ministry of Finance (India), Ministry of Finance, Government of India, part of the Department of Financial Services of the Ministry of Finance (India), Ministry of Finance. Set up in January 1987 by the Rajiv Gandhi government, its objective was to determine Industrial sickness, sickness of industrial companies and to assist in reviving those that may be viable and shutting down the others. On 1 December 2016, the First Modi ministry, Narendra Modi government dissolved BIFR and referred all proceedings to the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) as per provisions of Insolvency and Bankruptcy Code. History The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The board was set up in January 1987 and became functional as of 15 May 1987. A new industrial policy was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Company Law Appellate Tribunal
The National Company Law Appellate Tribunal (NCLAT) is a tribunal which was formed by the Central Government of India under Section 410 of the Companies Act, 2013. The NCLAT was formed as a body with an appellate jurisdiction at the same time when NCLT was established as a major reform as per powers granted to the Ministry of Corporate Affairs in India, The tribunal is responsible for hearing appeals from the orders of National Company Law Tribunal(s) (NCLT), starting on 1 June 2016. The tribunal also hears appeals from orders issued by the Insolvency and Bankruptcy Board of India under Section 202 and Section 211 of IBC. It also hears appeals from any direction issued, decision made, or order passed by the Competition Commission of India (CCI) and the National Financial Reporting Authority (NFRA). On 8 November 2021, Justice Ashok Bhushan has been appointed as the Chairperson of the Appellate Tribunal. History and objective National Company Law Appellate Tribunal was form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Act 2013
The Companies Act 2013 is an Act of the Parliament of India on Indian company law which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company. The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules. However, currently there are only 484 (470-43+57) sections in this Act. The Act has replaced The Companies Act, 1956 (in a partial manner) after receiving the assent of the ''President'' of India on 29 August 2013.The section 1 of the companies Act 2013 came into force on 30 August 2013 . 98 different sections of the companies Act came into force on 12 September 2013 with few changes like earlier private companies maximum number of members were 50 and now it will be 200. A new term of "one-person company" is included in this act that will be a private company and with only 98 sections of the Act notified. A total of another 183 sections came into force f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quasi-judicial Body
A quasi-judicial body is non-judicial body which can interpret law. It is an entity such as an arbitration panel or tribunal board, that can be a public administrative agency but also a contract- or private law entity, which has been given powers and procedures resembling those of a court of law or judge, and which is obliged to objectively determine facts and draw conclusions from them so as to provide the basis of an official action. Such actions are able to remedy a situation or impose legal penalties, and they may affect the legal rights, duties or privileges of specific parties.''West's Encyclopedia of American Law'', edition 2. Copyright 2008 The Gale Group, Inc. Powers Such bodies usually have powers of adjudication in such matters as: * breach of discipline * conduct rules * trust in the matters of money or otherwise Their powers are usually limited to a very specific area of expertise and authority, such as land use and zoning, financial markets, employme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jaipur
Jaipur (; Hindi: ''Jayapura''), formerly Jeypore, is the capital and largest city of the Indian state of Rajasthan. , the city had a population of 3.1 million, making it the tenth most populous city in the country. Jaipur is also known as the ''Pink City'', due to the dominant colour scheme of its buildings. It is also known as the Paris of India, and C. V. Raman called it the ''Island of Glory''. It is located from the national capital New Delhi. Jaipur was founded in 1727 by the Kachhwaha Rajput ruler Jai Singh II, the ruler of Amer, after whom the city is named. It was one of the earliest planned cities of modern India, designed by Vidyadhar Bhattacharya. During the British Colonial period, the city served as the capital of Jaipur State. After independence in 1947, Jaipur was made the capital of the newly formed state of Rajasthan. Jaipur is a popular tourist destination in India and forms a part of the west Golden Triangle tourist circuit along with Delhi and Agra ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Company Law
Indian company law regulates corporations formed under Section 2(20) of the Indian Companies Act of 2013, superseding the Companies Act of 1956. History The 2013 Companies Act superseded the Companies Act of 1956, under whose provisions Indian corporations previously operated. In addition to the Companies Act, corporations are subject to other regulations administered by the Ministry of Corporate Affairs (MCA), which has two branches: the Regional Director (RD) and the Registrar of Companies (ROC). At present, India has seven RDs and 22 ROCs. These two branches are also called in-house sources of adjudication. Recent changes in Indian Company law * Companies Act 2013 * Companies (1st Amendment) Act, 2015 * Companies (2nd Amendment) Act 2017 *Companies (3rd Amendment) Act 2019 *Companies (Amendment) Bill 2020 *Companies Fresh Start Scheme 2020 *Companies (Amendment) Ordinance 2018 *Companies (1st Amendment) Ordinance 2019 *Companies (2nd Amendment) Ordinance 2019 2015 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BloombergQuint
BQ Prime, formerly BloombergQuint, is an Indian business and financial news organization founded as a joint venture of Bloomberg News and Quintillion Media. Its main content is based on the Indian economy, international finance, corporate law and governance and business news. Within six months of going live, the web portal had one million monthly users, and there were plans to open a free-to-air TV channel. In July 2017, digital video analytics provider Vidooly rated BloombergQuint as the ninth most popular news brand among what it termed new-age news publishers. In September 2017, BloombergQuint launched a digital live streaming service available on its website (www.bloombergquint.com), the Bloomberg Terminal and BloombergQuint social platforms. The service includes daily live programming from both global and local markets. It launched a WhatsApp service in November 2017. It also announced a partnership with Nasscom, T-Hub and the government of Karnataka to launch 'ScaleUP', an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of India
The Supreme Court of India (IAST: ) is the supreme judicial authority of India and is the highest court of the Republic of India under the constitution. It is the most senior constitutional court, has the final decision in all legal matters except for personal laws and interstate river disputes, and also has the power of judicial review. The Chief Justice of India is the Head and Chief Judge of the Supreme Court, which consists of a maximum of 34 judges, and has extensive powers in the form of original, appellate and advisory jurisdictions. New judges here are uniquely nominated by existing judges and other branches of government have neglible say as the court follows collegium system for appointments. As the apex and most powerful constitutional court in India, it takes up appeals primarily against verdicts of the High Courts of various states of the Union and other courts and tribunals. It is required to safeguard the fundamental rights of citizens and settles disput ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Act 1956
The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries. It was repealed and replaced by the Companies Act 2013. History The Act was administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Registrar of Companies (ROC) handles incorporation of new companies and the administration of running companies. Since its commencement, it was amended many times, in which amendment of 1988, 1990, 1996, 2000 , 2011 & 2013 were notable. Types of companies There are 11 types of registrations for a company under the Companies Act 1956. * Private company * Public company * Companies limited by shares * Companies limited by guarantee * Unlimited company * Section 25 company * Governm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mahesh Mittal Kumar
Mahesh Mittal Kumar is chairman of National Company Law Tribunal, since the body came into force. He served as 31st Chief Justice of Jammu and Kashmir High Court. He was born on 5 January 1953. He took office as Chief Justice on 8 June 2012 and retired on 4 January 2015. Previously, he worked as judge at Punjab and Haryana High Court Punjab and Haryana High Court is the common High Court for the Indian states of Punjab and Haryana and the Union Territory of Chandigarh based in Chandigarh, India. Sanctioned strength of Judges of this High Court is 85 consisting of 64 .... Kumar has an illustrious academic and professional record. He qualified his LLB from Punjabi University, Patiala in 1977 and was enrolled as an Advocate in the same year. He commenced his practice in the District Courts of Sangrur. In 1979, he went to England for higher studies and qualified for LLM from the University of Birmingham. After returning to India he joined the Chamber of Kuldip Singh, Bar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
