Published On: 01/01/2014
Authors:
The new Companies Act, 2013 ("Act of 2013") proposes seminal changes in the manner in which companies are governed and regulated in India. The law has been substantially restated with an additional focus on creating an elaborate mechanism from an enforcement perspective. In this article, we will be focusing on the creation of the National Company Law Tribunal ("NCLT") and National Company Law Appellate Tribunal ("NCLAT") and issues in relation thereto. It was desired that, in place of various bodies presently looking into different company related matters such as mergers, bankruptcy and shareholder actions, a body should be constituted to handle all such matters in a speedy and efficacious manner