Companies Act 1956

17th Mar, 2020

Companies Tribunal is empowered to pass similar order relying on Sections 241 & 242 of the Companies Act, 2013 as was empowered under Section 388B of the Companies Act 1956.

The NCLAT (hereinafter referred to as’ in the matter of Shri CP Yogeshwara vs Union of India [Company Appeal (AT) No. 111 of 2019) decided on 13.03.2020 held that even in absence of Section 388B […]
23rd Dec, 2019

The conduct of the majority shareholders to be oppressive requires the events to be considered not in isolation, but as a part of a consecutive story. The acts must be continuous on the part of the majority shareholders, continuing up to the date of filing of the petition.

The National Company Law Appellate Tribunal (hereinafter referred to as “the Tribunal) in the matter of Cyrus Investments Pvt. Ltd. Vs. Tata Sons Ltd. & Anr. (Appeal No. 254/2018), decided on 18.12.2019, has reiterated the […]
7th Oct, 2019

Petition filed under section 433 of Companies Act 1956 beyond the period of three-years mentioned in Article 137 of the Limitation Act is time-barred, and cannot therefore be proceeded further

The Supreme Court in the matter of Jignesh Shah & Anr. v Union of India & Ors. (W.P. Civil No. 455/2019), decided on 25.09.2019 set aside the judgment of NCLAT & NCLT admitting a winding […]
28th Dec, 2018

The Registrar has to follow the procedure laid under Section 248 of the Companies Act 2013 before striking down the name of the company.

The Ld. National Company Law Appellant Tribunal held that the Registrar has to follow the due process as mentioned under Section 248 of the Companies Act 2013 and serve a proper notice to the company, […]
2nd Jan, 2016

Proceedings by a secured creditor under SARFAESI Act cannot be interfered with by a Company Judge under the Companies Act #indianlaws

The required provisions of the Companies Act are incorporated in the SARFAESI Act for harmonizing the SARFAESI Act with the Companies Act in respect of dues of workmen and their protection under Section 529 A […]
12th Aug, 2015

Official Liquidator cannot adjudicate claim of a Statutory Corporation# indianlaws

 The Supreme Court has held that the Official Liquidator has no jurisdiction to ascertain or adjudicate the claim of a secured creditor who has been permitted by the Company Judge to stand outside the liquidation […]
19th Jan, 2015

Official Liquidator steps into the shoes of Director of the Company in liquidation to performing statutory functions

The Official Liquidator was held to be an officer of the Court and that for the purpose of discharging statutory obligations imposed under the Act, 1956, the Official Liquidator merely steps into the shoes of […]
1st Dec, 2014

Winding up Petition not a legitimate mean to seek payment of dues when there exist a bonafide dispute

The creditor in order to seek winding up of a company must prove that the debt is clear and unimpeachable in law and the debt must have crystallized and if the accounts are not settled, […]
30th May, 2014

Company Court is not a debt collecting agency #indianlaws

The proceedings before a Company Court are not recovery proceedings and the Company Court cannot be used as a debt collecting agency
16th Feb, 2014

Scope of Sections 397 and 398 read with Sections 402 and 403 of the Companies Act, 1956

Section 397 of the Act empowers the Company Law Board to make such orders as it thinks fit with a view to bring an end to the matters complained of.
10th Feb, 2014

Whether filing of Form No. 32 or acceptance of resignation submitted by a Director is necessary for the same to be effective?

A Director is placed in a fiduciary position to that of a company and, therefore, it is the duty of a Director to ensure that the assets of the company are preserved and protected.
11th Dec, 2013

Scope of Section 446 Companies Act, 1956

Principles governing staying of suit in pursuance of winding up proceedings