Daily Archives: June 18, 2016

Key Take aways from Rajswa Gyansangam Conference of CBEC and CBDT

By | June 18, 2016

“Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annual Conference of Tax Administrators-2016” include further improvement in Tax Payers Services by use of technology and increased human touch; widening of tax base and faster dispute resolution among others The two day “Rajswa Gyansangam- Annual Conference of Tax Administrators-2016” concluded here… Read More »

Notwithstanding Meaning

By | June 18, 2016

Notwithstanding The expression “notwithstanding” is potent and it could mean only “despite”, “in spite of” and “nevertheless” (see Khaizar Basha v. Indian Airlines Corpn. AIR 1984 Mad. 379). A clause beginning with the expression “notwithstanding anything contained in the Act and in some particular provision in the Act or in some particular Act or in… Read More »

Transfer of certain pending proceedings to NCLT

By | June 18, 2016

Section – 434 of Companies Act, 2013 Sub-sections (1)(a) and (b) of section 434 enforced w.e.f 1-6-2016 vide NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], DATED 1-6-2016. Transfer of certain pending proceedings. 434. (1) On such date as may be notified by the Central Government in this behalf,— (a) all matters, proceedings or cases pending before the Board… Read More »

Section 431of Companies Act 2013 :Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings

By | June 18, 2016

Section – 431, Companies Act, 2013 Enforced with effect from 1-6-2016 ,NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV] Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings. 431. No act or proceeding of the Tribunal or the Appellate Tribunal shall be questioned or shall be invalid merely on the ground of the existence of… Read More »

Civil Court has no jurisdiction in the matter of NCLT and NCLAT

By | June 18, 2016

Section – 430 of Companies Act, 2013 Enforced w.e.f 1-6-2016  ,NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], Civil court not to have jurisdiction. 430. No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Tribunal or the Appellate Tribunal is empowered to determine by or under this Act or… Read More »

Power of NCLT to take control property / books of sick company or winding up Company

By | June 18, 2016

Section – 429 of Companies Act, 2013 Enforced w.e.f 1-6-2016 NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], DATED 1-6-2016. Power to seek assistance of Chief Metropolitan Magistrate, etc. 429. (1) The Tribunal may, in any proceeding relating to a sick company or winding up of any other company, in order to take into custody or under its control… Read More »

Protection of action taken in good faith by NCLT members

By | June 18, 2016

Section – 428 of  Companies Act, 2013 Protection of action taken in good faith. 428. No suit, prosecution or other legal proceeding shall lie against the Tribunal, the President, Member, officer or other employee, or against the Appellate Tribunal, the Chairperson, Member, officer or other employees thereof or liquidator or any other person authorised by… Read More »

Section 21 of IPC -public servant

By | June 18, 2016

SECTION 21 OF THE INDIAN PENAL CODE ” Public servant “. 21. The words “public servant” denote a person falling under any of the descriptions hereinafter following, namely:— First – [***] Second – Every Commissioned Officer in the Military, Naval or Air Forces of India; Third – Every Judge including any person empowered by law… Read More »

NCLT members are public servants

By | June 18, 2016

Section – 427, Companies Act, 2013 Enforced with effect from 1-6-2016 vide NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], President, Members, officers, etc., to be public servants. 427. The President, Members, officers and other employees of the Tribunal and the Chairperson, Members, officers and other employees of the Appellate Tribunal shall be deemed to be public servants within… Read More »