Highlights of the webinar
Webinar on “Practical aspects of NCLT Filings” conducted by Mehta & Mehta Legal Advisory Services on 4th December 2021 at 11:00AM
| Panelist | Designation |
| Mr. R Balakrishnan | Moderator |
| Ms. Dipti Mehta | Founder Partner- Mehta & Mehta |
| Presenter | Topic |
| Mr. Dweep Joshi | Practical aspects of NCLT Filings |
Introduction:
Mr. R Balakrishnan said that NCLT is a judicial body in India that resolves issues relating to Indian companies. The tribunal was established under the Companies Act 2013 and was constituted on 1 June 2016, by the government of India and is based on law relating to the insolvency and the winding up of companies it also deals in proceedings relating to arbitration, compromise, arrangements, reconstructions and the winding up of companies.
Mr. Dweep Joshi started presentation by explaining practicality of NCLT filings, procedures and litigation proceedings etc, Further he also mentioned pre NCLT era and why NCLT Tribunal was introduced along with NCLAT initially there were 11 benches but now it has been increased to 15 benches
Composition of NCLT:
A person who is or has been the Judge of High Court for 5 years OR A person who is or has been a Judge of a High Court or is a district judge for at least 5 years or has been an advocate of a court for at least 10 years. Tribunal includes chairperson, Judicial Member and Technical Member, Maximum No. of Members are 11 including Chairperson, Judicial & Technical Members
Terms of Office of President & Members
- Initial Term of 5 years but can be renewed for next 5 years
- Chairperson of Appellate Tribunal :
- Age Limit :
- President of Tribunal : Till attainment of 67 years
- Other Members : Till attainment of 65 years
- No person shall be appointed as a Member unless he has completed 50 years
Rectification & right to appeal to NCLAT
- Within 2 years from the date of order, NCLT may rectify mistake apparent from record after giving opportunity of being heard to both parties
- Rectification not to be done when appeal is preferred by any of the party,
- Right of appeal within 45 days from the date of receipt of certified copy of order by the aggrieved party excluding cases where consent orders have been passed by NCLT to NCLAT.
Who can Appear?
A party to any proceeding or appeal before the Tribunal or the Appellate Tribunal, as the case may be, may either appear in person or authorize one or more chartered accountants or company secretaries or cost accountants or legal practitioners or any other person to present his case before the Tribunal or the Appellate Tribunal, as the case may be
Further how to draft NCLT civil petitions, practical filing formats were discussed with the help of PDF. To know more about E filing and registration you can click here
https://www.youtube.com/watch?v=r8qAVVYmxKw&t=132s
Meeting got concluded at 12:20 pm.
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