WHAT ARE THE POWERS AND FUNCTIONS OF NCLT UNDER COMPANIES ACT, 2013?
Some of the powers and functions of NCLT are as follows:
- Class action against the company (Section 245)
- Deregistration of companies (Section 7(7))
- Investigative powers (Section 213)
- Mismanagement and Oppression (Section 241)
- Conversion of Public Company into Private Company (Section 13 to 18)
- Freeze the Assets of the company (Section 221)
- Annual General Meeting of companies (Section 97 and Section 98)
- Share transfer disputes (Section 58 and Section 59)
- Winding up of a company (Section 242)
WHERE ARE THE BENCHES FOR NCLT LOCATED?
National Company Law Tribunal has a principle bench at New Delhi and ten (10) other subsidiary benches in New Delhi, Ahmadabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kochi, Kolkata and Mumbai.
The NCTL cause list associated with each bench is maintained in the NCTL government website. The PDF version of the NCLT cause list can be found on nclt.gov.in
WHAT ARE THE ADVANTAGES OF HAVING DISPUTES RESOLVED THROUGH NCLT?
The key advantages are:
- Rapid disposal of cases
- Avoid multiplicity of cases
- Reduce burden on High Courts
- Single forum to resolve cases
- Filing of class action suits before NCLT
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