GOVERNMENT OF INDIA

Ministry of Corporate Affairs

NOTICE INVITING COMMENTS ON THE DRAFT RULES W.R.T. NCLT RELATED PROVISIONS UNDER THE COMPANIES ACT, 2013

Dated the 28^th January, 2016

283 Sections of the Companies Act, 2013 have already been commenced. Remaining sections related to functioning of NCLT/NCLAT and certain other authorities are yet to be notified. In view of the Supreme Court order dated 14^th May, 2015, the process for constitution of NCLT/NCLAT has been undertaken and these bodies are likely to be set up shortly.

2. The Ministry had set-up a Committee on 17th July, 2015 to examine the draft Rules w.r.t procedure to be followed NCLT/NCLAT. The said Committee has since made recommendations on draft rules w.r.t. following matters:-

(i) Rules on Compromises, Arrangements and Amalgamation;

(ii) Rules on Prevention of Oppression and Mismanagement; and

(iii) Rules on procedure to be followed by NCLT and NCLAT;

The draft rules w.r.t above matters have been placed on the Ministry’s website at www.mca.gov.in

3. It has been decided to invite suggestions/comments on the above draft rules. Suggestions/comments on above mentioned draft rules along with justification in brief may be addressed/sent latest by 17th February, 2016 through email at [email protected] . It is requested that the name, Telephone number and address of the sender should be indicated clearly at the time of sending suggestions/comments.