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9,000 cases under consideration of NCLT, including 2,500 insolvency cases

The Company Law Board was dissolved following the setting up of the NCLT under the Companies Act, 2013

Press Trust of India  |  New Delhi 

NCLT

More than 9,000 cases are under consideration of the National Company (NCLT), including over 2,500 cases of insolvency, according to the government.

"A total of 9,073 cases are under consideration in as on January 31, 2018, including 1,630 cases of merger and amalgamation, 2,511 cases of and 4,932 cases under other sections of Companies Act," of State for Corporate Affairs P P told the Rajya Sabha.

The Company Board was dissolved following the setting up of the under the Companies Act, 2013.

In a written reply, the also noted all efforts are being taken to dispose of the cases as per the time limits laid down in the Companies Act, 2013 and the and Code, 2016.

"Systems and procedures, including electronic/ systems are being used on extensive basis to ensure quick disposal of cases," he said.

According to Chaudhary, actions under the companies as well as are under progress against vanishing companies as well as their directors and promoters.

"Out of the 238 listed companies identified as 'vanishing companies', due to the efforts of the (corporate affairs) ministry and law enforcement agencies, 161 such companies have been traced and 77 more companies are still in the list of vanishing companies," he said in an another written reply.

First Published: Tue, March 13 2018. 17:25 IST
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