The Companies Act 1956 has been replaced by new Companies Act of 2013. It has brought several changes in the corporate practice in India. For the Corporate lawyers in Delhi it has brought several challenges. Company Law Board has been abolished. National Company Law Tribunal has been set up. NCLAT has also been set up to hear company appeal. Company jurisdiction of High Courts has been abolished due to changes in new Companies Act, 2013.
The Central Government has constituted National Company Law Tribunal (NCLT) under section 408 of the Companies Act, 2013 (18 of 2013) w .e .f. 0106.2016. 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, Ahmadabad, Allahabad, Bangalore, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata and Mumbai. Primarily we practice at New Delhi, but we used to appear before all NCLT across the country. Company law practice is our core area of practice. Our NCLT team of corporate lawyers is much experienced and well equipped and updated.
Before the NCLT & NCLAT following kind of cases/appeals/petitions and applications are generally filed, under the New Companies Act, 2013:
Application under section 2(41) of the Companies Act, 2013 for change in financial year.
Application under section 7(7) of the Companies Act, 2013 to Tribunal where company has been incorporated by furnishing false or incorrect info or by any fraudulent action.
Application under section 14(1) of the Companies Act, 2013 for conversion of public company into a private company.
Application under section 55(3) of the Companies Act, 2013 for issue of further redeemable preference shares.
Appeal under section 58(3) of the Companies Act, 2013 against refusal of registration of shares.
Appeal on under section 59 of the Companies Act, 2013 for rectification of register of members.
Appeal under section 64(4) of the Companies Act, 2013 against order of Govt. Fixing terms and conditions for conversions of debentures and shares.
Petition under section 71(9) of the Companies Act, 2013 by debenture-trustees.
Application under section 71(10) of the Companies Act, 2013 for failure of redeeming of debentures.
Application under section 73(4) of the Companies Act, 2013 by (depositor) for repayment of deposit or interest.
Application under section 74(2) of the Companies Act, 2013 to allow further time as considered reasonable to the company to repay deposits.
Application under section 97(1) of the Companies Act, 2013 for calling of Annual General meeting.
Application under section 98(1) of the Companies Act, 2013 for calling of general meeting of company other than Annual General meeting.
Petition under section 119(4) of the Companies Act, 2013 to pass an order directing immediate inspection of minute’s books or directing a copy thereof be sent forthwith to person requiring it.
Application under section 130(1) of the Companies Act, 2013 for re-opening of books of accounts, if made by any person other than Central Government, Income Tax authorities, SEBI or any other statutory regulatory body or authority.
Application under section 131(1) of the Companies Act, 2013 by company for voluntary revision of financial statement on Board’s report.
Application under section 140(4) of the Companies Act, 2013 for not sending the copy of representation of auditor to the members.
Application under section 140(5) of the Companies Act, 2013 by any other person concerned for change of auditors.
Application under section 169(4) of the Companies Act, 2013 for not sending copies of representation.
Application under section 213 of the Companies Act, 2013 to Tribunal for investigation into company affairs.
Application under section 218(1) of the Companies Act, 2013 for approval for action proposed against employee.
Application under section 222(1) of the Companies Act, 2013 for imposition of restriction on securities.
Application under section 241(1) of the Companies Act, 2013 in cases of oppression and mismanagement.
Application under section 242(4) of the Companies Act, 2013 for regulating the conduct of the company
Application under section 243(1)(b) of the Companies Act, 2013 for appointment of Managing Director.
Application under section 244(1) of the Companies Act, 2013 for waiver of requirement specified in clause (a) or (b) of section 244(1)
Application under section 245 of the Companies Act, 2013 for Class action suits.
Application under section 441 of the Companies Act, 2013 for compounding of certain offences.
Appeal under section 421 of the Companies Act, 2013 to NCLT
Application under any other provisions specifically not mentioned hereinabove.