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Tuesday, November 21, 2017 IST

Important Things to Know About National Company Law Tribunal

Tribunal (NCLT) Allahabad

The successor to the Company Law Board, National Company Law Tribunal, Government of India introduced this law in 2016 under Companies Act, 2013.

Mehrotra Legal is a leading law firm that aims to provide its clients quality services and to guide them in every aspect of their business operations. Since the law is new still for many people, only expert lawyers are able to keep up with the changes that jurisdictional has provided in the NCLT.

We have a team of expert lawyers in the company law to understand every minute detail and process it to have the best plan ready to execute in the existing condition to perform your business operations without breaking any code of conduct.

Tribunal (NCLT) Allahabad | Advocate Pranjal Mehrotra
Tribunal (NCLT) Allahabad | Advocate Pranjal Mehrotra

There are plethora of advantages for National Company Law Tribunal (NCLT).

  • Registered companies in India now have specialized courts in India under NCLT, which give an edge to them during the time of the dispute.
  • Corporate members won’t be having any more than the tribunal.
  • NCLT & NCLAT have exclusive jurisdiction.
  • Case numbers will be reduced as the speedy jurisdiction will be at the aid. It will help the companies to find the justice quicker and to start performing their business operations, which were stopped due to the legal case.

NCLT enjoys a huge range of powers vested in the hands of the committee whose aim is to support transparent business in the country

  • De-registration of companies that fail to follow the certain guidelines and principles laid down by NCLT.
  • It can declare the liability of the members unlimited according to the existing business situations.
  • In the case of mismanagement and oppression, NCLT acts a real remedy, which can save business going downslide or get shut due to ill practices often performed by certain people.
  • In the case of refusal to transfer securities and rectification, it acts as an organization to hear the grievances.
  • Some companies often play a tricky card and the real owner remains hidden behind the curtain. In such cases, NCLT has the power to investigate the real owner of the company and may take action again him/her if find any such thing.

 

 

 

 

 

 

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