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Home > Company Registration > Contact Us

National Company Law Tribunal Rules, 2016 and the National Company Law Appellate Tribunal Rules, 2016

New Delhi, 22nd July 2016: With Notification dated 21July, 2016 MCA has notified the National Company Lax tribunal Rules, 2016.
 
National-Company-Law-Tribunal-and-Appellate-Tribunal-Rules-2016 
 
In a separate notification, the rules for the National Company Law Appellate are also notified. NCLT and its appellate are part of the Companies Act, 2013 replacing the Company Law Board.
 
The NCLT is based on the recommendations of a committee which was set to examine the existing law for winding up and remodeling of companies. These recommendations made by Justice Eradi committee are to avoid unnecessary delays and make the process in tune with the international practices. These rules are for faster resolution of corporate disputes.
 
According to the Ministry, Ten locations with infrastructure are set up in Mumbai, Kolkata, Chennai, Hyderabad, and the national capital.
 
With these rules, the MCA gradually looks to reduce the workload of High Court by transferring powers related to winding-up, reduction of share capital to NCLT. This move further eases Business operations in the country.
 
The detailed information about NCLT and its appellate can be collected from the MCA website from here.
 
 
Keywords : National Company Law Tribunal Rules 2016, National Company Law Appellate Tribunal Rules 2016

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