25.1 The Committee noted that after the Honourable Supreme Court’s Order of May, 2015, the Government had initiated the process of constituting the ‘National Company Law Tribunal’ and the ‘National Company Law Appellate Tribunal’. The Committee felt that changes in the Companies Act, 2013, in Sections 409(3)(a) & (e), 411(3) and 412(2), as directed by the Honourable Supreme Court, should be included in the Act.

National Company Law Tribunals: amendments to the Companies Act proposed to incorporate tribunal and appellate tribunal provisions. Proposed amendments to the Companies Act aim to incorporate the National Company Law Tribunal and National Company Law Appellate Tribunal into the statute. After a Supreme Court direction, the government moved to constitute these bodies, and the committee recommended amending specified Act provisions to authorise and accommodate the tribunal structure, composition and appellate architecture envisaged by that direction.