NCLT and NCLAT have opened a plethora of opportunities for Company Secretary in practice. Comment.

Establishment of NCLT and NCLAT have created plenty of opportunities for Practicing Company Secretaries. Company Secretaries are authorized to appear before the NCLT/NCLAT. Following are the areas of activities for Company Secretary in Practice: Merger/Amalgamation/Compromise - A whole new area of practice opened up for Company Secretary in Practice with respect to advising and assisting corporate sector on merger, amalgamation, demerger, reverse merger, compromise and arrangements. The role of CS starts from the conceptual to implementation level. Company Secretaries in Practice will be able to render services in preparing schemes, appearing before NCLT/NCLAT for approval of schemes and post-merger formalities. Revival of Companies - Where a Registrar of Companies (ROC) have struck off the name of a company u/s 248, a practicing company secretary may assist in revival of such company. Winding up - National Company Law Tribunal has also been empowered to pass an order for winding up of a company. Therefore, Practicing Company Secretaries may represent the winding-up case before the Tribunal. Now Practicing Company Secretaries have been permitted to act as Liquidator in case of winding-up by the Tribunal. Reduction of Capital - As per Section 66 of the Companies Act, 2013, subject to confirmation by the Tribunal, a company limited by shares or a company limited by guarantee and having a share capital can reduce its share capital. Practicing Company Secretaries will be able to represent cases of reduction of capital before the Tribunal. Oppression and mismanagement - Sections 241 and 244 of the Companies Act, 2013 deals with the cases of Oppression and Mismanagement. Section 241 deals with making an application to Tribunal for relief in cases of Oppression, etc. and section 244 describes the Right to apply under section 241. Insolvency and Bankruptcy cases - Insolvency practice is a new field of activity for professionals while improving the quality of intervention at all levels during rehabilitation/winding-up liquidation proceedings. Law has recognized the Insolvency Practitioners as Administrators, Liquidators, Turn around Specialists Valuers, etc. Greater responsibility and authority have been given to Insolvency Practitioners under the supervision of the Tribunal to maximize resource use and application of skills. Company Secretary in Practice as Member of NCLT - A Practicing Company Secretary can be appointed as a Technical Member of NCLT, provided he has 15 years working experience as secretary in whole-time practice.