Ministry of Corporate Affairs: Notice inviting Comments on The Draft Rules of NCLT provisions under The Companies Act, 2013

Ministry of Corporate Affairs: Notice inviting Comments on The Draft Rules of NCLT 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. Read the Judgement on LiveLaw.

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 in 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 on the above matters have been placed on the Ministry’s website at www.mca.gov.in.

It has been decided to invite suggestions/comments on the above draft rules. Suggestions/comments on above mentioned draft rules along with justification in brief may be addressed/sent latest by 17th February, 2016 through email at ncltrules@mca.gov.in. It is requested that the name, Telephone number and address of the sender should be indicated clearly at the time of sending suggestions/comments.

Click here for the Official Notice and Format for sending Suggestions.