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2010 (5) TMI 864 - SC - Companies LawValidity of the provisions of Companies Act, 1956 as amended by the Companies (Second Amendment) Act, 2002, which provides for setting up of National Company Law Tribunal and National Company Law Appellate Tribunal. Whether such ‘wholesale transfer of powers’ as contemplated by the Companies (Second Amendment) Act, 2002 would offend the constitutional scheme of separation of powers and independence of judiciary, so as to aggrandize one branch over the other? Held that:- Since the issues raised in the appeals are of seminal importance and are likely to have serious impact on the very structure and independence of the judicial system, the issue with regard to the constitution of the Tribunals and the areas of their jurisdiction needs to be given a fresh look and therefore, the matter deserves to be heard by a Constitution Bench.
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