You are here: Home » News-CM » Economy » News
Business Standard

9,073 cases are under consideration in NCLT

Capital Market 

The Company Board (CLB) set up under Companies Act 1956 stands dissolved with the setting up of Tribunal (NCLT).

As on 12.03.2018, only one case under section 55(3) of the Companies Act, 2013 is pending before the NCLT.

A total of 9,073 cases are under consideration in NCLT as on 31.01.2018, including 1,630 cases of Merger and Amalgamation, 2,511 cases of insolvency and 4,932 cases under other sections of Companies Act.

All efforts are being taken to dispose off the cases as per the time limits laid down in the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016. Systems and procedures including electronic/systems are being used on extensive basis to ensure quick disposal of cases.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 09:30 IST