MCA NOTIFIED THE NCLT AND NCLAT RULES, 2016

CENTRAL GOVERNMENT NOTIFIED THE NCLT AND NCLAT RULES, 2016

The Ministry of Corporate Affairs (“MCA”), vide Notification dated. July 21, 2016, has notified the National Company Law Tribunal Rules, 2016/ NCLT Rules, 2016, which has replaced the Company Law Board. Further, the rules for the National Company Law Appellate Tribunal have also been notified by the Corporate Affairs Ministry. The Tribunal and its Appellate Authority are part of the Companies Act, 2013.

NCLT is initially located at ten places across India, equipped with requisite infrastructure and support staff, including Delhi, Mumbai, Kolkata, Hyderabad and Chennai. NCLT will prove out to be effective platform for adjudication of disputes on corporate law matters through disposal of such cases in a time bound and speedy manner.

NCLT and its Appellate Tribunal were constituted by the Ministry earlier to exercise and discharge the powers and functions as are, or may be, conferred on it by or under the Act with effect from the 1st day of June, 2016.

Criteria for matters before NCLT/NCLAT branch (Order No. 25/1/2016-NCLT dated June 29, 2016):-

S. No.	Bench	Matters pertaining to
1.	National Company Law Tribunal, Principal Branch	1)      Company having paid up share capital more than Rs. 50 lakhs and 2)      As per special order of the Hon’ble President, NCLT
2.	National Company Law Tribunal, New Delhi Branch	1)      Company having paid up capital upto Rs. 50 lakhs

Notifications regarding the NCLT/NCLAT Rules, 2016 can be downloaded from the below mentioned links for reference:

1.           For National Company Law Tribunal Rules, 2016:-
         http://www.mca.gov.in/Ministry/pdf/Rules_22072016_1.pdf

2.     For National Company Law Appellate Tribunal Rules, 2016:-

        http://www.mca.gov.in/Ministry/pdf/Rules_22072016.pdf