National Company Law Tribunal (NCLT) has the powers to entertain and adjudicate upon certain matters under the Companies Act, 2013. Describe at least 10 such sections under which NCLT has adjudication powers under the Co

CS Professional · Corporate Restructuring, Insolvency, Liquidation & Winding-up · PYQS · June 2022
National Company Law Tribunal (NCLT) has the powers to entertain and adjudicate upon certain matters under the Companies Act, 2013. Describe at least 10 such sections under which NCLT has adjudication powers under the Companies Act, 2013.

Answer & Explanation:

National Company Law Tribunal has the powers to entertain and adjudicate up on matters pertaining to the following sections of the Companies Act, 2013: Section 7(7): Incorporation Section 55(3): Issue and redemption of preference shares Section 58 and 59, remedy for refusal to transfer or transmission of securities. Section 61 (1): Approval for consolidation and division of shares which results in changes in the voting percentage of shareholders of the limited company Section 62(4) to (6): further issue of share capital Sections 71(9) to (11): Debentures issues Section. 75: Damages for fraud Sections 97, 98, & 99: To call meetings of members Sections 119(4): Inspection of minutes' books Sections 130, 131: Reopening of accounts, revision of financial statements Sections 140 (4) & (5): Removal of auditors Sections 169(4): Removal of directors Sections 213, 216(2), 214, 221, 222, 224(5): Investigations into company's affairs Section 230, 231: Compromise or Arrangement Section 231, 232: Merger or Amalgamation Sections 241, 242 except (1) (b), (2) (c) and (g): Relief in cases of oppressions, etc. and powers of Tribunal. Sections 243, 244, 245: Oppression and mismanagement and Class Action suits Section 252: Revival of strike -off companies Sections 399 (2): Production of documents Sections 419, 425: Powers of NCLT Section 441: Compounding.

Topics: Regulatory Framework

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