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NIRC_ICSI

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NIRC representing over 44000 Chartered Accountants and 225000 students spread across the States of Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab and Union Territory of Chandigarh is a constitutent body of the Institute of Chartered Accountants of India, a body established by an Act of Parliament (XXXVIII of 1949) to regulate the profession of Chartered Accountancy. – PowerPoint PPT presentation

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Title: NIRC_ICSI


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Title of the Bench

Territorial Jurisdiction of the Bench
1. New Delhi a)National Company Law Tribunal,
Principal Bench.
(1) State of Haryana. (2) State of Rajasthan.
b)National Company Law Tribunal,
New Delhi Bench. (3)
Union territory of Delhi.
(1) State of Gujarat. (2) State of Madhya
Pradesh. (3) Union territory of Dadra and Nagar
Haveli.
2. National Company Law Tribunal, Ahmedabad Bench.



(4) Union territory of Daman and Diu.
(1) State of Uttar Pradesh.
3. National Company Law Tribunal, Allahabad Bench.



(2) State of Uttarakhand.
4. National Company Law Tribunal, Bengaluru
Bench. (1)
State of Karnataka.
(1) State of Himachal Pradesh. (2) State of Jammu
and Kashmir. (3) State of Punjab.
5. National Company Law Tribunal, Chandigarh
Bench.



(4) Union territory of Chandigarh.
(1) State of Kerala. (2) State of Tamil Nadu. (3)
Union territory of Lakshadweep.
6. National Company Law Tribunal, Chennai Bench.
Benches of NCLT and NCLAT



(4) Union territory of Puducherry.
(1) State of Arunachal Pradesh. (2) State of
Assam. (3) State of Manipur. (4) State of
Mizoram. (5) State of Meghalaya. (6) State of
Nagaland. (7) State of Sikkim.
7. National Company Law Tribunal, Guwahati Bench.



(8) State of Tripura.
(1) State of Andhra Pradesh.
8. National Company Law Tribunal, Hyderabad Bench.



(2) State of Telangana.
(1) State of Bihar. (2) State of Jharkhand. (3)
State of Odisha. (4) State of West Bengal. (5)
Union territory of Andaman and
9. National Company Law Tribunal, Kolkata Bench.



Nicobar Islands.
(1) State of Chhattisgarh. (2) State of Goa. (3)
State of Maharashtra.
10. National Company Law Tribunal, Mumbai Bench.
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NCLT A Single Fora for all Corporate Litigation
Oppression and Corporate
Reconstruction
Winding
up Mismanagement Insolvency Resolution Pro
cess
Relevant provisions Status
241 of Section 6-32 of
Section 230 to 240 of Companies 270-303,
324, 326 and 328-365 of the Companies Companies
the Insolvency Act, 2013
(MA) Act,2013
(Winding Up by tribunal) and Section 33 Act,2013
and Bankruptcy Section 66 of
the Companies Act, -77 of the Insolvency and
Bankruptcy Code,2016 Code,2016
2013 (Reduction of Share Capital). (Voluntary
Compulsory Winding Up)
Notified Not yet Notified
Not yet Notified
Not yet Notified
Class Action Suits Representative suit/action is
not new in India ecosystem, Civil Prouder Code
and Consumer Protection Act contains similar
provisions, for representative suit/actions. But
both the enactments are not suffice to counter
the oppressive acts of companies and management
thereof. Therefore first time in 2005, JJ Irani
Report specifically advocated the need of such
measures under Companies Act, in parallel to
counterparts (i.e. USA, Singapore and UK).
Subsequently in 2009, it gained its momentum with
"India's Enron"- Satyam Fiasco case wherein
financial accounts were manipulated. Thereafter
in Companies Bill, 2009, class action suit was
included as measures to be available with the
Members and Creditors of the Company wherein as
per their opinion affairs of the Company are
conducted in manner prejudicial to the interest
of the company, or its members and
creditors. Section 245 of the Companies Act, 2013
covers the said provisions and adjudicating
authority will be NCLT only.
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