ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

9073 cases under consideration in NCLT

Posted on 14 March 2018,    
 1515    Share  Report

9,073 cases are under consideration in NCLT, including 1,630 cases of Merger and Amalgamation; 2,511 cases of insolvency and 4,932 cases under other sections of Companies Act

The Company Law Board (CLB) set up under Companies Act 1956 stands dissolved with the setting up of National Company Law Tribunal (NCLT). As on 12.03.2018, only one case under section 55(3) of the Companies Act, 2013 is pending before the NCLT.

A total of 9,073 cases are under consideration in NCLT as on 31.01.2018, including 1,630 cases of Merger and Amalgamation, 2,511 cases of insolvency and 4,932 cases under other sections of Companies Act.

All efforts are being taken to dispose off the cases as per the time limits laid down in the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016. Systems and procedures including electronic/Information Technology systems are being used on extensive basis to ensure quick disposal of cases.

This was stated by Shri P.P. Chaudhary, Minister of State for Corporate and Law & Justice in Rajya Sabha today.

Tags :  


Comments


img

Trending Tags