With the constitution of National Company Law Tribunal (NCLT) and dissolution of Company Law Board (CLB) , the following related provisions of the Companies Act, 2013 have become effective wef 01/06/2016
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 1st June, 2016
.O. 1934(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 20l3 (18 of 20l3), the Central Government hereby appoints the 01st day of June, 2016 as the date on which the following provisions of the said Act shall come into force, namely :
| Sl. No. | Section/ Subsection/ Proviso | |
| 1. | Sub-section (7) of section 7 [except clause (c) and (d)] | Incorporation of a company by furnishing false or incorrect information-Powers of Tribunal |
| 2. | Second proviso to sub-section (1) of section 14 | Tribunal’s approval for conversion of public company into private company |
| 3. | Sub-section (2) of section 14 | Tribunal’s order to be filed with RoC |
| 4. | Sub-section (3) of section 55 | Tribunal power to allow company to issue further redeemable preference shares equal to amount due for redemption |
| 5. | Proviso to Clause (b) of sub-section (1) of section 61 | Tribunal approval for consolidation/division of shares resulting change in shareholders % |
| 6. | Sub-sections (4) to (6) of section 62 | Appeal to Tribunal against Govt order for conversion of debentures into shares |
| 7. | Sub-sections (9) to (11) of section 71 | Petition by Debenture trustees before Tribunal |
| 8. | Section 75 | Damages for failure to repay deposits |
| 9. | Section 97 | Power of Tribunal to call AGM |
| 10. | Section 98 | Power of Tribunal to call meeting of members |
| 11. | Section 99 | Punishment for default of section 96, 98 |
| 12. | Sub-section (4) of section 119 | Tribunal power to order immediate Inspection of minute book of general meeting |
| 13. | Section 130 | Reopening of accounts, recasting of financial statements |
| 14. | Section 131 | Voluntarily revision of financial statements or Board’s report with Tribunal’s approval |
| 15. | Second proviso to sub-section (4) and sub-section (5) of section 140 | Tribunal’s power to do away with requirement related to representation by retiring/resigning auditor |
| 16. | Sub-section (4) of section 169 | Tribunal’s power to do away with requirement related to representation by removed director |
| 17. | Section 213 | Tribunal’s power to order investigation into Company’s affair |
| 18. | Sub-section (2) of Section 216 | Tribunal’s power to order investigation of ownership of company |
| 19. | Section 218 | Protection of employees during investigation |
| 20. | Section 221 | Tribunal’s power to freeze assets of company |
| 21. | Section 222 | Tribunals Power to impose restriction of securities |
| 22. | Sub-sections (5) of section 224 | Tribunal’s power to order with regard to disgorgement of assets, property cash of the company |
| 23. | Sections 241, 242 [except clause (b) of sub-section (1), clause (c) & (g) of sub-section (2)], 243, 244, and 245 | Tribunal’s power in oppression and mismanagement |
| 24. | Reference of word ‘Tribunal’ in sub-section (2) of section 399 | Inspection, production and evidence of documents kept by RoC |
| 25. | Sections 415 to 433 (both inclusive) | Provisions regarding President/Chairperson of Tribunal/Appellate Tribunal, Resignation/removal of members,Staff, Benches etc. |
| 26. | Sub-section (1)(a) and (b) of section 434 | Transfer of certain pending proceedings |
| 27. | Sub-section (2) of section 434 | Govt power to make rules for transfer of pendency before CLB to Tribunal |
| 28. | Section 441 | Compounding of offences |
| 29. | Section 466 | Dissolution of CLB and consequential provisions |
[F. No. A-45011/14/2016-Ad.IV]
PRITAM SINGH, Addl. Secy
For registration u/s 12AA if Commissioner’s satisfaction is limited to the objects of the Institution, or also to genuineness of…
Over 30 approvals u/s 153D granted within minutes amounted to total non-application of mind – Bombay High Court In a…
When AO invoked provisions of section 37(1) to disallow purchases, provisions of section 69C of the Act are not applicable…
ITAT refuses to accept opening cash as source of cash deposit as assessee was not subject to audit and cash…
Mere preparation of income tax notice and forwarding the same for dispatch is not effective issuance of notice until it…
Agreement validly terminated prior to initiation of CIRP did not constitute “assets” or “property” of the corporate debtor u/s 14…