AHLAWAT & ASSOCIATES ADVOCATES
AHLAWAT & ASSOCIATES ADVOCATES
Role Of Company Law And Secretarial Practice In NCLT And NCLAT
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Keeping in mind the perspective of the legal issues and the requirement of special knowledge, the people responsible for discharging the responsibilities and dealing with complicated matters related to various subjects, the emergence of specialized tribunals have gained acceptability and attention over the years.
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ESTABLISHMENT OF NCLT
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According to a constitution bench of the Supreme Court and in a recent judgment has resulted in the formation of NCLT or the National Company Law Tribunal and the NCLAT or the National Company Law Appellate Tribunal under the provisions of the Companies Act of 2013.While all the matters are going to be handled by the NCLT, the aggrieved parties not satisfied with the decision of NCLT may move further and appeal through the Company Law Appellate Tribunal and going ahead further to the Supreme Court.
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LEGAL REPRESENTATIVE The party of a legal proceeding or an appeal before the tribunal or the appellate tribunal may prefer to appear in person or send someone specializing in company law and secretarial practice, a CA or other legal practitioners, and any other person for the presentation of the case before the tribunal or the appellate tribunal.
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PROSPECT OF COMPANY SECRETARIES The establishment of NCLT and NCLAT is going to offer a host of opportunities to the company secretaries who are still practicing and have been authorized to appear before the tribunal or the appellate tribunal.
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OTHER DUTIES OF CORPORATE SECRETARY The corporate secretarial practice is going to engage in a merger, demerger, amalgamation, reverse merger, compromise, and the rest of the arrangements right from the level of conception to implementation.
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Conclusion As the NCLT has been given the power of winding up the companies, the company secretaries can also represent those cases before the tribunal. When compared with the previous positions of company liquidators for which government officials used to be appointed, the corporate secretaries today can act as liquidators in winding up the case.
Resource: https://www.liveblogspot.com/business/law-andsecretarial-practice-in-nclt-and-nclat/
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