Notice inviting comments on draft rules w.r.t NCLT/NCLAT
28 January 2016
Ministry of Corporate Affairs (MCA) has come with a NOTICE INVITING COMMENTS ON THE DRAFT RULES W.R.T. NCLT RELATED PROVISIONS UNDER THE COMPANIES ACT, 2013 283 Sections of the Companies Act, 2013 have already been commenced. Remaining sections related to functioning of NCLT/NCLAT and certain other authorities are yet to be notified. In view of the Supreme Court order dated 14th May, 2015, the process for constitution of NCLT/NCLAT has been undertaken and these bodies are likely to be set up shortly. The Ministry had set-up a Committee on 17th July, 2015 to examine the draft Rules w.r.t procedure to be followed NCLT/NCLAT. The said Committee has since made recommendations on draft rules w.r.t. following matters:- (i) Rules on Compromises, Arrangements and Amalgamation; (ii) Rules on Prevention of Oppression and Mismanagement; and (iii) Rules on procedure to be followed by NCLT and NCLAT; The draft rules w.r.t above matters have been placed on the Ministry’s website at www.mca.gov.in.