National Company Law Tribunal and Corporate Law related legal issues
NCLT (National Company Law Tribunal) is a quasi-judicial body in India that adjudicates issues relating to corporate law. It was established under the Companies Act, 2013 and is responsible for handling matters pertaining to company law and insolvency proceedings. The NCLT has the authority to deal with a wide range of corporate disputes, including those related to mergers and acquisitions, corporate governance, and insolvency resolutions under the Insolvency and Bankruptcy Code (IBC), 2016.
Services Provided:
1. Insolvency and Bankruptcy Resolution:
- Handling cases under the Insolvency and Bankruptcy Code (IBC), 2016
- Overseeing corporate insolvency resolution processes (CIRP).
- Approving resolution plans for distressed companies
- Managing liquidation proceedings for companies unable to be revived.
2. Mergers, Amalgamations, and Restructuring:
- Approving schemes of mergers, demergers, and amalgamations
- Facilitating corporate restructuring processes.
- Ensuring compliance with statutory requirements during corporate restructuring
3. Oppression and Mismanagement:
- Adjudicating cases involving allegations of oppression and mismanagement by company management.
- Providing remedies to minority shareholders facing oppressive practices.
- Ensuring fair treatment of shareholders and protection of their rights.
4. Corporate Governance Disputes:
- Resolving disputes related to the appointment and removal of directors
- Addressing issues concerning the management and administration of com
- Ensuring compliance with corporate governance norms and regulations.
5. Winding Up of Companies:
- Overseeing the winding-up process of companies
- Ensuring fair distribution of assets to creditors and shareholders
- Managing voluntary and compulsory winding-up cases
6. Class Action Suits:
- Handling class action suits filed by shareholders or depositors
- Providing a forum for collective redressal of grievances against the company.
7. Restoration of Companies:
- Restoring the name of companies struck off from the register of companie
- Providing orders for the revival of defunct companies.
8. Reduction of Share Capital:
- Approving applications for the reduction of share capital
- Ensuring that the reduction process is fair and equitable to all shareholders
9. Investigations and Inquiries:
- Ordering investigations into the affairs of companies.
- Appointing inspectors to investigate company operations and management practices
10. Corporate Compliance and Regulatory Matters:
- Ensuring companies comply with various provisions of the Companies Act, 2
- Addressing issues related to non-compliance with regulatory requirements.
- Providing orders and directions for the implementation of statutory provisions.