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National Company Law Tribunal Rules 2016

Companies Law - F. No. 1/30/2013/CL-V - Dated:- 21-7-2016 - MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 21st July 2016 G.S.R. 716 (E).- In exercise of the powers conferred by section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely;- 1. Short title and Commencement - (1) These rules may be called the . (2) They shall come into force on the date of their publication in the Official Gazette. PART - I Definitions, forms and e .....

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titioner or an appellant or any other person or entity capable of making an application including an interlocutory application or a petition or an appeal under the Act; (5) "application" means any application, interlocutory application or proceedings filed under the provisions of the Act. including any transferred application or transferred petition as defined under sub-rule (29) ; (6) "authorised representative" means a person authorised in writing by a party to present his .....

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nts are received by the Registrar for allocation to the concerned Bench of the Tribunal for disposal; (9) "certified" means in relation to a copy of a document as hereunder;- (a) certified as provided in section 76 of the Indian Evidence Act, 1872; or (b) certified as provided in section 6 of Information Technology Act, 2000; (c) certified Copy issued by the Registrar of Companies under the Act; (d) copy of document as may be a downloaded from any online portal prescribed under section .....

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nce Act, 1872 (1 of 1872); (11) "creditor" means any person to whom a debt is owed; (12) "fee" means the amount payable in pursuance of the provisions of the Act and these rules for any petition or application or interlocutory application or a document or for certified copy of document or order of the Tribunal or such other paper as may be specified in Schedule of Fees to these rules and includes any modifications as may be made thereto or any fee as prescribed for filing of .....

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a proceeding for execution of the order or direction of Tribunal; (16) "party" means a person who prefers an appeal or application or petition before the Tribunal and includes respondent or any person interested in the said appeal or application or petition including the Registrar of Companies or the Regional Director or Central Government or State Government or official liquidator and any person who has a right under the Act, or the Reserve Bank of India Act 1934 (2 of 1934) to make .....

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19) "pleadings" means and includes application including interlocutory application, petition, appeal, revision, reply, rejoinder, statement, counter claim, additional statement supplementing the original application and reply statement under these rules and as may be permitted by the Tribunal; (20) "reference" means a reference within the meaning of rule 88 of these rules; (21) "Registrar" means Registrar of the Tribunal and includes such other officer of the Tribun .....

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tary" means Secretary of the Tribunal and in the absence of Secretary, such other officer of the Tribunal to whom the powers and functions Of the Secretary are delegated. (26) "secured creditor" means a creditor in whose favour a security interest is created; (27) "security interest" means right, title or interest or a claim to property, created in favour of, or provided for a secured creditor by a transaction which secures payment or performance of an obligation and inc .....

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or Industrial and Financial Reconstruction as provided in clause (a), (c) and (d) of sub-section( 1) of section 434 of the Act; (30) words and expressions used herein and not defined but defined in the Act shall have the respective meanings assigned to them in the Act. 3. Computation of time period.- Where a period is prescribed by the Act and these rules or under any other law or is fixed by the Tribunal for doing any act, in computing the time, the day from which the said period is to be recko .....

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ll be used. 5. Format Of order or direction or rule.- Every rule, direction, order, summons, warrant or other mandatory process shall be issued in the name of the President and shall be signed by the Registrar or any other officer specifically authorised in that behalf by the President, with the day, month and year Of signing and shall be sealed with the seal Of the Tribunal. 6. Official seal of the Tribunal.- The official seal and emblem of the Tribunal shall be such, as the Central Government .....

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e Tribunal.- The Tribunal shall hold its sittings either at its headquarter or at such Other place falling within its territorial jurisdiction as it may consider convenient. 9. Sitting hours.- The sitting hours of the Tribunal shall ordinarily be from 10:30 AM to 1 PM and 2:00 P.M. to 4:30 PM, subject to any order made by the President. 10. Working hours.- (l) Except on Saturdays, Sundays and other National Holiday, the office of the Tribunal shall remain open on all working days from 09.30 A.M. .....

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f cases.- An urgent matter filed before 12 noon shall be listed before the Tribunal on the following working day, if it is complete in all respects as provided in these rules and in exceptional cases, it may be received after 12 noon but before 3.00 P.M. for listing on the following day, with the specific permission of the Bench. 14. Power to exempt.- The Tribunal may on sufficient cause being shown, exempt the parties from compliance with any requirement Of these rules and may give such directi .....

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or allowed. PART-II Power and functions of President, Registrar and Secretary 16. Functions of the President.- In addition to the general powers provided in the Act and in these rules the President shall exercise the following powers, namely: - (a) preside over the consideration of cases by the Tribunal; (b) direct the Registry in the performance of its functions; (c) prepare an annual report on the activities of the Tribunal; (d) transfer any case from one Bench to other Bench when the circumst .....

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tration of appeals, petitions and applications; (b) receive applications for amendment of appeal or the petition or application or subsequent proceedings. (c) receive applications for fresh summons or notices and regarding services thereof; (d) receive applications for fresh summons or notices and for short date summons and notices; (e) receive applications for substituted service of summons or notices; (f) receive applications for seeking orders concerning the admission and inspection of docume .....

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tions Of the Secretary- (1) There shall be a Secretary at the Principal Bench of the Tribunal, New Delhi, (2) The Secretary shall, under the general superintendence and control of the President, discharge such duties, functions and exercise such powers as are prescribed under these rules and as assigned by the President from time to time. (3) Secretary shall - (a) be in charge of the long term projects and initiatives of the Tribunal; (b) supervise the divisions and sections of the Human Resourc .....

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ommunication technolow and other technological facilities in the Tribunal; (i) manage and facilitate communication and services of the Tribunal; (j) manage, monitor and administer the public affairs and public safety provisions within the premises of the Tribunal; and (k) supervise library and research wings of the Tribunal. 19. Delegation of powers by the President.- The President may assign or delegate to any suitable officer all or some Of the functions required by these rules to be exercised .....

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imeter width on top and with a right margin of 2.5. cm, and left margin of 5 cm, duly paginated, indexed and stitched together in paper book form; (2) The cause title shall state "Before the National Company Law Tribunal" and shall specify the Bench to which it is presented and also set out the proceedings or order of the authority against which it is preferred. (3) Appeal or petition or application or counter or objections shall be divided into paragraphs and shall be numbered consecu .....

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petition or application. (6) The names of parties shall be numbered consecutively and a separate line should be allotted to the name and description of each party. (7) These numbers shall not be changed and in the event of the death of a party during the pendency of the appeal or petition or matter, his legal heirs or representative, as the case may be, if more than one shall be shown by sub-numbers. (8) Where fresh parties are brought in, they may be numbered consecutively in the particular cat .....

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number Of the house; (b) the name of the town or village; (c) the post office, postal district and PIN Code, and (d) any other particulars necessary to locate and identify the addressee such as fax number, mobile number, valid e-mail address, if any. 22. Initialling alteration.- Every interlineations, eraser or correction or deletion in any appeal or petition or application or document shall be initialled by the party or his authorised representative presenting it. 23. Presentation Of petition .....

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r appeal may be accompanied by documents duly certified by the authorised representative or advocate filing the petition or application or appeal duly verified from the originals. (3) All the documents filed in the Tribunal shall be accompanied by an index in triplicate containing their details and the amount of fee paid thereon. (4) Sufficient number Of copies of the appeal or petition or application shall also be filed for service on the opposite party as prescribed under these rules. (5) In t .....

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jections, as the case may be, and shall deliver one copy to each Of the opposite party. 25. Lodging of caveat.- (1) Any person may lodge a caveat in triplicate in any appeal or petition or application that may be instituted before this Tribunal by paying the prescribed fee after forwarding a copy by registered post or serving the same on the expected petitioner or appellant and the caveat shall be in the form prescribed and contain such details and particulars or orders or directions, details of .....

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dorsement and Verification.- (1) At the foot Of every petition or appeal or pleading there shall appear the name and signature of the authorised representative. (2) Every petition or appeal shall be signed and verified by the party concerned in the manner provided by these rules. 27. Translation Of document.- (1) A document other than English language intended to be used in any proceeding before the Tribunal shall be received by the Registry accompanied by a copy in English, which is agreed to b .....

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r hearing until and unless all parties confirm that all the documents filed on which they intend to rely are in English or have been translated into English and required number of copies are filed into Tribunal. 28. Endorsement and scrutiny Of petition or appeal or document.-(l ) The person in charge of the filing-counter shall immediately on receipt of petition or appeal or application or document affix the date stamp of Tribunal thereon and also on the additional copies of the index and return .....

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d if there is a failure to comply within seven days from the date of return, the same shall be placed before the Registrar who may pass appropriate orders. (3) The Registrar may for sufficient cause return the said document for rectification Or amendment to the party filing the same, and for this purpose may allow to the party concerned such reasonable time as he may consider necessary or extend the time for compliance. (4) Where the party fails to take any step for the removal of the defect wit .....

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Tribunal, call for the records relating to the proceedings from any adjudicating authority and retransmit the same. 31. Production of authorisation for and on behalf of an association. - Where an appeal or application or petition or other proceeding purported to be instituted by or On behalf of an association, the person or persons who sign (s) or verify (ies) the same shall produce along with such application, for verification by the Registry, a true copy of the resolution of the association e .....

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d for in pending matters shall be in prescribed form and the requirements prescribed in that behalf shall be complied with by the applicant, besides filing an affidavit supporting the application. 33. Procedure on production of defaced, torn or damaged documents. - When a document produced along with any pleading appears to be defaced, torn, or in any way damaged or otherwise its condition or appearance requires special notice, a mention regarding its condition and appearance shall be made by th .....

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notices shall be in Form No. NCLT. 4. (3) Every petition or application or reference shall be filed in form as provided in Form No. NCLT. 1 with attachments thereto accompanied by Form No. NCLT.2 and in case of an interlocutory application, the same shall be filed in Form NO. NCLT. 1 accompanied by such attachments thereto along with Form No. NCLT. 3. (4) Every petition or application including interlocutory application shall be verified by an affidavit in Form No. NCLT.6. Notice to be issued b .....

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tuate, and at least once in English language in an English newspaper circulating in that district. (2) Every such advertisement shall state;- (a) the date on which the application, petition or reference was presented; (b) the name and address of the applicant, petitioner and his authorised representative, if any, (c) the nature and substance of application, petition or reference; (d) the date fixed for hearing; (e) a statement to the effect that any person whose interest is likely to be affected .....

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ny. (4) An affidavit shall be filed to the Tribunal, not less than three days before the date fixed for hearing, stating whether the petition has been advertised in accordance with this rule and whether the notices, if any, have been duly served upon the persons required to be served: Provided that the affidavit shall be accompanied with such proof Of advertisement or of the service, as may be available. (5) Where the requirements of this rule or the direction Of the Tribunal, as regards the adv .....

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ed immediately by the Registration Clerk on their receipt side in a Cash Register kept for the purpose. (2) On every next working day or the last working day Of the week, the payments received during such day or week by way of Indian postal orders or demand drafts shall be transmitted by the Registration Clerk to the concerned official vested with the work pertaining to the Cashier who after scrutiny and verification shall acknowledge the receipt Of all moneys in the Cash Register. (3) The offic .....

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ate specified in the notice in Form No. NCLT.S, the Tribunal, after according reasonable opportunity to the respondent, shall forthwith proceed ex-parte to dispose of the application. (3) If the respondent contests to the notice received under sub-rule (l), it may, either in person or through an authorised representative, file a reply accompanied with an affidavit and along with copies of such documents on which it relies, with an advance service to the petitioner or applicant, to the Registry b .....

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orised representative; (b) by registered post or speed post with acknowledgment due; or (c) service by the party himself. (3) Where a notice issued by the Tribunal is served by the party himself by hand delivery, he shall file with the Registrar or such other person duly authorised by the Registrar in this behalf, the acknowledgment together with an affidavit of service and in case of service by registered post or by speed post, file with the Registrar, or such Other person duly authorised by th .....

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ears to the Tribunal just and convenient. (5) A notice or process may also be served on an authorised representative of the applicant or the respondent, as the case may be, in any proceeding or on any person authorised to accept a notice Or a process, and such service on the authorised representative shall be deemed to be a proper service. (6) Where the Tribunal directs a service under sub-rule (4), such amount Of charges, as may be determined by the Tribunal from time to time, but not exceeding .....

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d communication facilities such as video conferencing or otherwise as may be decided by the Tribunal, on an application moved by any party. (3) Every affidavit to be filed before the Tribunal shall be in Form No. NCLT.7. 40. Production of additional evidence before the Bench. - (1) Notwithstanding anything contained in rule 39, the parties to the proceedings shall not be entitled to produce before the Bench additional evidence, either oral or documentary, which was in the possession or knowledge .....

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party to adduce evidence, the Bench, for reasons to be recorded, may allow such document to be produced or witness to be examined or affidavit to be filed or may allow such evidence to be produced. (2) Such document may be produced or such witness examined or such evidence adduced either before the Bench or before such authority as the Bench may direct. (3) If the document is directed to be produced or witness examined or evidence adduced before any authority, the party shall comply with the dir .....

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reply to the petition or the application and copies of the documents, either in person or through an authorised representative, with the registry as specified by the Tribunal. (2) A copy of the reply Or the application and the copies of other documents shall be forthwith served on the applicant by the respondent. (3) To the reply or documents filed under sub-rule (1), the respondent shall specifically admit, deny or rebut the facts stated by the applicant in his petition or application and state .....

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rties or any one Or more Of them, to produce such further documentary or other evidence as it may consider necessary:- (a) for the purpose of satisfying itself as to the truth ofthe allegations made in the petition or application; or (b) for ascertaining any information which, in the opinion of the Bench, is necessary for the purpose of enabling it to pass orders in the petition or application. (2) Without prejudice to sub-rule (1), the Bench may, for the purpose of inquiry or investigation, as .....

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Of any statutory records, then it shall be at liberty to move an appropriate application for forensic examination and the Bench hearing the matter may, for reasons to be recorded. either allow the application and send the disputed records for opinion of Central Forensic Science Laboratory at the cost of the party alleging fabrication of records, or dismiss such application. 44. Hearing of petition Or applications.- ( 1) The Tribunal shall notify to the parties the date and place of hearing of t .....

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mposing such costs as it may deem fit and proper for the Tribunal in the interests of the justice. 45. Rights of a party to appear before the Tribunal.- (1) Every party may appear before a Tribunal in person or through an authorised representative, duly authorised in writing in this behalf. (2) The authorised representative shall make an appearance through the filing of Vakalatnama or Memorandum of Appearance in Form No. NCLT. 12 representing the respective parties to the proceedings. (3) The Ce .....

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on the Registrar of Companies to submit information on the affairs Of the company on the basis of information available in the MCA21 portal. Reasons for such directions shall be recorded in writing. (6) There shall be no audio or video recording of the Bench proceedings by the parties or their authorised representatives. 46. Registration of authorised representative's interns.- (1) No intern employed by an authorised representative shall act as such before the Tribunal or be permitted to hav .....

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e Bench Officer or the Court Officer, as the case may be, shall administer the following oath to a witness:- "l do swear in the name of God / solemnly affirm that what I shall state shall be the truth and nothing but the truth." 48. Consequence of non-appearance of applicant.- (1) Where on the date fixed for hearing of the petition or application or on any other date to which such hearing may be adjourned, the applicant does not appear when the petition or the application is called for .....

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was disposed of on merits the decision shall not be re-opened. 49. Ex-parte Hearing and disposal.- (l) Where on the date fixed for hearing the petition or application or on any other date to which such hearing may be adjourned, the applicant appears and the respondent does not appear when the petition or the application is called for hearing, the Tribunal may adjourn the hearing or hear and decide the petition or the application ex-parte. (2) Where a petition or an application has been heard ex .....

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where the ex-parte hearing of the petition or application is of such nature that it cannot be set aside as against one respondent only, it may be set aside as against all or any of the other respondents also. 50. Registry to send certified copy.- The Registry shall send a certified copy of final Order passed to the parties concerned free of cost and the certified copies may be made available with cost as per Schedule of fees, in all other cases. 51. Power to regulate the procedure.- The Tribuna .....

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issued by the Tribunal under sub-rule (1) to any Witness to give evidence or to produce any document, the person so summoned shall be entitled to such travelling and daily allowance sufficient to defray the travelling and other expenses as may be determined by the Registrar which shall be deposited by the party as decided by the Registrar. 53. Substitution of legal representatives.- (1) Where a party to a proceeding pending before a Bench dies or is adjudged insolvent or, in the case of a compan .....

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received from the legal representatives within the period specified in sub-rule (2), the proceedings shall abate: Provided that for good and sufficient reasons shown, the Tribunal may allow substitution of the legal representatives of the deceased at any time before disposing the petition on merits. 54. Assessors or valuers.- (1) In any enquiry into a claim, the Tribunal may call in the aid of assessor or valuer, not exceeding two in number, who possess any technical or special knowledge with re .....

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the Tribunal may think fit. 56. Application for execution.- For execution Of order passed by the Tribunal, the holder of an order shall make an application to the Tribunal in Form NCLT.8. 57. Issue of process of execution.- (1) On receipt of an application under rule 56 the Tribunal shall issue a process for execution of its order in such Form as provided in the Code of Civil Procedure, 1908 (5 of 1908). (2) The Tribunal shall consider objection, if any, raised by the respondent and make such or .....

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o the contrary contained in any rules or regulations framed under the Act, no order or direction imposing a penalty under the Act shall be made unless the person or the company or a party to the proceeding, during proceedings Of the Bench, has been given a show cause notice and reasonable opportunity to represent his Or her or its case before the Bench or any officer authorised in this behalf. (2) In case the Bench decides to issue show cause notice to any person or company or a party to the pro .....

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Orders of the Tribunal.- (1 ) Once the final text of the judgment has been approved and adopted, the judgment shall be signed and dated by the President or the concerned Members or Member and the Registrar, and shall contain the names of the Members who have taken part in the decision. (2) Any Member differing as to the grounds upon which the judgment was based or some of its conclusions, or dissenting from the judgment, may append a separate or dissenting opinion. (3) In case the members who ha .....

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rmit amicus curiae to have access to the pleadings of the parties and the Tribunal shall enable the parties to submit timely observations on brief provided by the amicus curiae. (3) The Tribunal shall be at liberty to direct either of the parties or both the parties to the proceedings involving a point on which the opinion Of the amicus curiae has been sought, to bear such expenses or fee as may be ordered by the Tribunal. (4) The judgment and any appended opinions shall be transmitted to the pa .....

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r (c) if there exists other circumstances such as to make the President or the Member's participation seem inappropriate (2) The President or any Member recusing himself may record reasons for recusal: Provided that no party to the proceedings or any other person shall have a right to know the reasons for recusal by the President or the Member in the case. PART-VI Other Procedures 63. Presentation and scrutiny of petitions or applications.- In case of the scrutiny of the petitions or applica .....

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ier dealt by other quasi-judicial bodies, courts and tribunals 64. Matter earlier dealt by Company Law Board.- (1) Notwithstanding anything contained in any other law for the time being in force, an original civil action or case arising out of the Act, or any other corresponding provision of the Companies Act, 1956 or Reserve Bank of India Act, 1934 is filed or pending before the Company Law Board on the date on which the Tribunal is constituted, and the relevant provisions of the Act dealing wi .....

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Bench from which it was transferred: Provided that the Tribunal shall consider any action taken under the regulations of the Company Law Board as deemed to have been taken or done under the corresponding provisions of these rules and the provisions of the Act, and shall thereupon continue the proceedings, except in a case where the order is reserved by the Company Law Board or its Bench and in such a case, the Tribunal shall reopen the matter and rehear the case as if the hearing had not taken p .....

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ers as may be constituted in exercising of such power as enshrined in the Act: Provided that matters pending before the Principal Bench Of the Company Law Board as on the date of constitution of Tribunal shall continue and be disposed of by a bench consisting Of not less than two Members of the Tribunal having territorial jurisdiction. (3) It shall be lawful for the Tribunal to dispose of any case transferred to it wherever the Tribunal decides that further continuance of such application or pet .....

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rve a copy of the petition on the parties thereto including the Central Government, Regional Director, Registrar Of Companies, Official Liquidator or Serious Fraud Investigation Office, as the case may be, as provided in the Act, in the manner as provided under Part III. (5) Upon an application to the Tribunal if the permission is granted to file a petition or an application in physical form, then the same shall be filed accompanied with the documents or papers to be attached thereto as required .....

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the Reserve Bank of India Act, 1934 (2 of 1934).- Provisions of these rules shall apply, mutatis mutandis, to the application or petition made under subsection (2) of section 45QA of the Reserve Bank of India Act, 1934 (2 of 1934) or under such other analogous provision of the other Act(s). PART- VIII Special Procedure 66. Application under sub- section (7) of section 7.- (1). An application under sub-section (7) of section 7 Of the Act shall be filed to the Tribunal in Form NCLT-I and shall be .....

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g such company, (d). involvement of promoters, subscribers and first directors in committing fraud during the course of incorporation; (3) Subject to the provisions contained in Proviso to sub-section (7) of Section 7, the Tribunal may pass such orders, as it may think fit in accordance with clauses (a) to (e) of said sub-section (7). 67. Petition under sub-section (41) of section 2.- The Petition under the sub-section (41) of Section 2 be filed to the Tribunal in Form NCLT-I and shall be accomp .....

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e following particulars : (a) the date of the Board meeting at which the proposal for alteration of Articles was approved; (b) the date of the general meeting at which the proposed alteration was approved; (c) State at which the registered office of the company was situated; (d) number of members in the company, number of members attended the meeting and number of members of voted for and against; (e) reason for conversion into a private company, effect Of such conversion on shareholders, credit .....

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petition by not more than two months, setting forth the following details, namely:- (a) the names and address of every creditor and debenture holder of the company; (b) the nature and respective amounts due to them in respect of debts, claims or liabilities; (c) in respect of any contingent or unascertained debt or any such claim admissible to proof in winding up of the company, the value, so far as can be justly estimated of such debt or claim: Provided that the petitioner company shall file a .....

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ch debts and claims and that there are no other debts of , or claims against, the company to their knowledge. (4) A duly authenticated copy Of the list of creditors shall be kept at the registered office of the company and any person desirous of inspecting the same may, at any time during the ordinary hours of business, inspect and take extracts from the same on payment of the sum of rupees ten per page to the company. (5) The company shall at least fourteen days before the date of hearing; (a) .....

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body, if the company is regulated under any other Act. (6) Where any objection of any person whose interest is likely to be affected by the proposed petition has been received by the petitioner, it shall serve a copy thereof to the Registration or before the date of hearing. (7) While passing an order, the Tribunal may, if it is satisfied, having regard to all the circumstances of the case, that the conversion would not be in the interest of the company or is being made with a view to contraven .....

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ions of the memorandum or articles authorizing the issue of preference shares; (d) total number of preference shares issued; (e) details of such preference shares that are not redeemed or unable to pay dividend; (f) terms and conditions of issue of such existing preference shares; (g) total number of such preference shares (unredeemed) and number of holders consented for with value of such preference shares and percentage of holders who have consented for, and (h) date or dates on which the cons .....

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he redemption forthwith of preference shares held by such persons who have not consented to the issue of further redeemable preference shares: Provided further that the Tribunal may, at its discretion, make such orders as to costs as it thinks fit. (3) The decision of the Tribunal on the petition shall be final. 70. Appeal under sections 58 and 59.- (1) The appeals against the refusal for registration of transfer Or transmission of securities under section 58 or for rectification of register of .....

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e interest is likely to be affected by the proposed petition has been received by the petitioner, it shall serve a copy thereof to the Registrar on or before the date of hearing: (4) The Tribunal may, while dealing with a petition under section 58 or 59, at its discretion, make- (a) order or any interim order, including any orders as to injunction or stay, as it may deem fit and just; (b) such orders as to costs as it thinks fit; and (c) incidental or consequential orders regarding payment of di .....

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) of sub-section (1) of section 61. (1)An application for Obtaining the approval of the Tribunal for the consolidation and division of all or any of the share capital into shares of a larger amount than its existing shares which results in changes in the voting percentage of shareholders shall be filed in Form No. NCLT. 1 and shall be accompanied by such documents as are mentioned in Annexure B. (2) The application shall, inter alia, set forth the following:- (a) provision of articles authorisin .....

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owledgement due, a notice together with the Copy of the application to the Central Government, Registrar of Companies and to the Securities and Exchange Board of India, in the case Of listed companies and to the regulatory body, if the company is regulated under any other Act. (4) Where any objection of any person whose interest is likely to be affected by the proposed application has been received by the applicant, it shall serve a copy thereof to the Central Government, Registrar of Companies .....

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nterest, Converts the debentures or loan or any part thereof into shares in the company On such terms and conditions as appear to the Government to be reasonable in the circumstances of the case even in terms of the issue of such debentures or the raising of such loans do not include a term for providing for an option for such conversion. If such terms and conditions of conversion are not acceptable to the company, it may, within sixty days from the date Of communication of such order, appeal to .....

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, shall be filed to the Tribunal, in Form No. NCLT. 11 in duplicate and shall be accompanied by such documents as are mentioned in Annexure B, by- (a) in case Of debentures, all or any of the debenture holders concerned, or debenture trustee; or (b) in case of deposits, all or any of the depositors concerned, or where the deposits are secured, by the deposit trustee, (2) There shall be attached to the application, a list of depositors or debenture holders, as the case may be, setting forth the f .....

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le an affidavit stating that the list of depositors or debenture holders, as the case may be, is correct, and that the estimated values as given in the list of the amount payable to such depositors or debenture holders are proper estimates of the values of such debts and claims. (3) The Tribunal shall pass an appropriate order within a period Of sixty days from the date of receipt of application under sub-rule (1): Provided that the Tribunal shall, before making any order under this rule, give a .....

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ons as may be specified in the order: Provided that while passing the order, the Tribunal shall consider the financial condition of the company, the amount Or deposit or debenture or part thereof and the interest payable thereon. (5) The application under sub-section (2) of section 74 and sub-section (2) of section 76 read with section 74(2) shall be in Form NCLT-I and shall accompanied with the documents as per Annexure B. (6) A copy of application under sub-section (2) of section 76 and under .....

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all annual general meeting.- (1) An application under section 97 for calling or obtaining a direction to call the annual general meeting of the company shall be made by any member of the company in Form No. NCLT. 1 and shall be accompanied by the documents specified in Annexure B. (2) A copy of the application shall be served on the Registrar of Companies on or before the date of hearing. 75. Application for obtaining an order for calling of general meeting (other than Annual General Meeting).- .....

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book of general meeting on payment of requisite fee and the company refused to give such inspection, he may apply to the Tribunal in Form No NCLT-9 for direction to the company for inspection of minute-book of general meeting. 77. Application under section 131.- (1) Where it appears to the directors of a company that the financial statement of the company or the report of the Board do not comply with the provisions of section 129 or section 134, the application shall be filed in Form No. NCLT-I .....

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inancial Officer, directors, Company Secretary and officer of the company responsible for making and maintaining such books of accounts and financial statement; (c) where such accounts are audited, the name and contact details of the auditor or any former auditor who audited such accounts; (d) copy of the Board resolution passed by the Board of Directors; (e) grounds for seeking revision of financial statement or Board's Report. (4) The company shall at least fourteen days before the date of .....

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copy.. (7) On receipt of approval from Tribunal a general meeting may be called and notice of such general meeting along with reasons for change in financial statements may be published in newspaper in English and in vernacular language. (8) In the general meeting, the revised financial statements, statement of directors and the statement of auditors may be put up for consideration before a decision is taken on adoption Of the revised financial statements. (9) On approval of the general meeting, .....

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atisfied on an application of the company or the aggrieved person that the rights conferred by the provisions of section 140 are being abused by the auditor, then, the copy of the representation need not be Sent and the representation need not be read out at the meeting, (3) If the application is made by the Central Government and the Tribunal is satisfied that any change of the auditor is required, it shall Within fifteen days Of receipt of such application make an order that the auditor shall .....

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in Annexure B. 81. Application under section 241.- (1) An Application under clause (a) or clause (b) of sub-section (1) of section 241 of the Act, shall be filed in the Form NCLT- I and shall be accompanied with such documents as are mentioned in Annexure B. (2) Where an application is presented under section 241 on behalf of any members of a company entitled to apply under sub-section (1) of the said section, by any one or more of them, the letter of consent signed by the rest of the members so .....

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rved on the company, other respondents and all such persons as the Tribunal may direct. 82. Withdrawal of Application filed under section 241. - (1) An application under clause (a) or clause (b) of sub-section (1) of section 241 of the Act, shall not be withdrawn without the leave of the Tribunal. (2) An Application for withdrawal under sub-rule (1) shall be filed in the Form NCLT-9. 83. Application under section 243.- (1) An application under clause (b) of sub-section (1) Of section 243 of the .....

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t and such application shall also be accompanied by a copy of such notice. (3) The notice of the date of hearing of the application together with a copy of the application shall be served on the Central Government not less than fifteen days before the date fixed for the hearing. 84. Right to apply under section 245.- (1) An application under sub-section (1) of section 245, read with sub-section (3) of section 245 of the Act, shall be filled in Form NCLT-9. (2) A copy of every application under s .....

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would be impractical, making a class action desirable; (b) whether there are questions of law or fact common to the class; (c) whether the claims or defences of the representative parties are typical of the claims or defences of the class; (d) whether the representative parties will fairly and adequately protect the interests of the class. (2) For the purposes of clause (c) of sub-section (4) of section 245, while considering the desirability of an individual or separate action as opposed to a c .....

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.- (1) A member of a class action under section 245 of the Act is entitled to opt-out of the proceedings at any time after the institution of the class action. with the permission of the Tribunal, as per Form No. NCLT1. (2) For the purposes of this rule, a class member who receives a notice under clause (a) of sub section (5) of section 245 of the Act shall be deemed to be the member of a class, unless he expressly opts out Of the proceedings, as per the requirements of the notice issued by the .....

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ribunal as per Form No. NCLT-13 to all the members of the class by- (a) publishing the same within seven days of admission of the Application by the Tribunal at least once in a vernacular newspaper in the principal vernacular language of the State in which the registered office of the company is situated and at least once in English in an English newspaper that is in circulation in that State; (b) requiring the company to place the public notice on the website of such company, if any, in additio .....

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ered as the date of serving the public notice to all the members Of the class. (3) The public notice shall, inter alia, contain the following (a) name Of the lead applicant; (b) brief particulars of the grounds of application; (c) relief sought by such application; (d) statement to the effect that application has been made by the requisite number of members/depositors; (e) statement to the effect that the application has been admitted by the Tribunal after considering the matters stated under su .....

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he Tribunal thinks fit. (4) The cost or expenses connected with the publication of the public notice under this rule shall be borne by the applicant and shall be defrayed by the company or any other person responsible for any oppressive act in case order is passed in favour of the applicant. 88. Reference to the Tribunal.- Any reference to the Tribunal by the Registrar of Companies under section 441 of the Act, or any reference to the Tribunal by the Central Government under proviso to sub-secti .....

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cuments mentioned in Annexure-B. PART IX CAUSE LIST 89. preparation and publication Of daily cause list.- (1) The Registry shall prepare and publish on the notice board of the Registry before the closing of working hours on each working day the cause list for the next working day and subject to the directions of the President, listing of Cases in the daily cause list shall be in the following order of priority, unless otherwise ordered by the concerned Bench; namely;- (a) cases for pronouncement .....

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ch. (3) Against the number of each case listed in the daily cause list, the following shall be shown, namely;- (a) names of the legal practitioners appearing for both sides and setting out in brackets the rank of the parties whom they represent; (b) names of the parties, if unrepresented, with their ranks in brackets. (4) The objections and special directions, if any, of the Registry shall be briefly indicated in the daily cause list in remarks column, whenever compliance is required. 90. Carry .....

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e Registrar shall, unless otherwise directed, adjourn the cases posted before that Bench to a convenient date and the adjournment or posting or directions shall be notified on the notice board of the Registry. PART X RECORD OF PROCEEDINGS 91. Diaries.- (1) Diaries shall be kept by the clerk-in-charge in such form as may be specified in each appeal or petition or application and they shall be written legibly. (2) The diary in the main file shall contain a concise history of the appeal or petition .....

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the same shall be signed by the Members of the Tribunal constituting the Bench: Provided that the routine orders, such as call for of the records, put up with records, adjourned and any other Order as may be directed by the Member of the Tribunal shall be signed by the Court Master of the Bench. (3) The order sheet shall also contain the reference number of the appeal or petition or application, date of order and all incidental details including short cause title thereof. 93. Maintenance of cour .....

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tutes or citations for reference.- The parties or legal practitioners shall, before the commencement of the proceedings for the day, furnish to the Court Master a list of law journals, reports, Statutes and other citations, which may be needed for reference or photocopy of full text thereof. 95. Calling of cases in court.- Subject to the orders of the Bench, the Court Master shall call the cases listed in the cause list in the serial order. 96. Regulation of court work.- (1) When the Tribunal is .....

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rections, the Court Master shall ensure that the records of the case along with proceedings or orders of the Bench are transmitted immediately to the Registry and the Registry shall verify the case records received from the Court Master with reference to the cause list and take immediate steps to communicate the directions or orders of the Bench. PART XI MAINTENANCE OF REGISTERS 97. Registers to be maintained.- The following Registers shall be maintained and posted on a day to day basis by the R .....

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tely); (b) miscellaneous application file; (c) process file; and (d) execution file 99. Contents of main file.- The main file shall be kept in the following order and it shall be maintained as permanent record till ordered to be destroyed under the rules - (a) index; (b) order sheet; (c) final order Or judgment; (d) memo of appeal or petition, as the case may be, together with any schedule annexed thereto; (e) counter or reply or objection, if any; (f) (i) oral evidence or proof Of affidavit; (i .....

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wing items, namely- (a) index; (b) the order sheet; (c) the execution application; (d) all processes and other papers connected with such execution proceedings; (e) transmission of order to civil court, if ordered; and (f) result of execution; 102. File for miscellaneous applications.- For all miscellaneous applications there may be only one file with a title page prefixed to it and immediately after the title page, the diary, the miscellaneous applications, supporting affidavit, the order sheet .....

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g the orders and directions passed by the Tribunal, shall be maintained by the Registry of the Tribunal for a period of fifteen years after the passing of the final order. 104. Retention, Preservation and Destruction of Records.- (1) The Record Keeper or any other officer so designated shall be responsible for the records consigned to the Record Room. He shall scrutinize the records received by him within three days and prepare an index. (2) On the expiry of the period for preservation of the re .....

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hall show the date of presentation of the appeal petition for caveat or interlocutory application and the name of the authorised representative, if any, of such party with his full address for service and the interim order, if any, made thereon. (3) The Tribunal may order for issuing notice in appropriate cases and also permit the party concerned for service of the said notice on the Other side by Dasti and in such case, deliver the notice to such party and it is for such party to file affidavit .....

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acknowledgement before the date fixed for hearing. 107. Steps for issue of fresh notice.- (1) If any notice issued under rule 105 is returned unserved, that fact and the reason thereof shall be notified immediately on the notice board of the Registry. (2) The applicant or petitioner or his authorised representative shall within seven days from the date Of the notification, take steps to serve the notice afresh. 108. Consequence of failure to take steps for issue of fresh notice. - Where, after a .....

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der sheet 'Notes of the Registry', the details regarding completion of service of notice on the respondents, such as date of issue of notice, date of service, date of return of notice, if unserved, steps taken for issuing fresh notice and date of completion of services, etc. 110. Default of appearance of respondent and Consequences.- Where the respondent, despite effective service of summons or notice on him does not appear before the date fixed for hearing, the Tribunal may proceed to h .....

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s an appeal or petition and wherever new facts are sought to be introduced with the leave of the Tribunal for the first time, the same shall be affirmed by a supporting affidavit. (3) The respondent, if permitted to file objections or counter in any proceeding shall also file three copies thereof after serving copies of the same on the appellant Or petitioner or their Counsel on record or authorised representative, as the case may be. PART XIII Fee on Petition or Appeal, Process Fee And Award of .....

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dule of Fees of these rules: Provided that no fee shall be payable or shall be liable to be collected on an application filed by the Registrar of Companies, Regional Director or by an officer on behalf of the Central Government. (3) In respect of a petition or appeal or application filed or references made before the Principal Bench or the Bench of the Tribunal, fees referred to in this Part shall be paid by means of a bank draft drawn in favour of the Pay and Accounts Officer, Ministry of Corpo .....

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ORD 114. Inspection Of the records.- (1) The parties to any case or their authorised representative may be allowed to inspect the record of the case by making an application in writing to the Registrar and by paying the fee prescribed thereof. (2) Subject to such terms and conditions as may be directed by the President by a general or special order, a person who is not a party to the proceeding, may also be allowed to inspect the proceedings after obtaining the permission of the Registrar in wri .....

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application with its remarks before the Registrar, who shall, on consideration of the same, pass appropriate orders. (3) Inspection of records Of a pending case shall not ordinarily be permitted On the date fixed for hearing of the case or on the preceding day. 117. Mode of inspection.- (1) On grant of permission for inspection of the records, the Deputy Registrar shall arrange to procure the records Of the case and allow inspection of such records on the date and time fixed by the Registrar bet .....

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person supervising the inspection, may at any time prohibit further inspection, if in his opinion, any of the records are likely to be damaged in the process of inspection or the person inspecting the records has violated or attempted to violate the provisions of these rules and shall immediately make a report about the matter to the Registrar and seek further orders from the Registrar and such notes shall be made in the Inspection Register. 118. Maintenance of register of inspection.- The Depu .....

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the Tribunal unless he files into Tribunal vakalatnama or Memorandum of Appearance as the case may, duly executed by or on behalf of the party for whom he appears. 120. Consent for engaging another legal practitioner.-. A legal practitioner proposing to file a Vakalatnama or Memorandum of Appearance as the case may be, in any pending case or proceeding before the Tribunal in which there is already a legal practitioner or authorised representative on record, shall do so only with the written con .....

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e in connection with the institution Of any case or other proceeding before the Tribunal or has drawn pleadings in connection with any such matter or has during the progress of any such matter acted for a party, shall not, appear in such case or proceeding or other matter arising therefrom or in any matter connected therewith for any person whose interest is opposed to that of his former client, except with the prior permission of the Tribunal. 122. Restriction on party's right to be heard.- .....

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under sub-rule (1) for assistance in the proceedings before the Bench, if so required. (3) The remuneration payable and other allowances and compensation admissible to such persons shall be specified in consultation with the Tribunal. 124. Professional dress for the authorised representatives.- While appearing before the Tribunal, the authorised representatives shall wear the same professional dress as prescribed in their Code of Conduct. PART XVI AFFIDAVITS 125. Title Of affidavits.- Every aff .....

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fidavits of illiterate, visually challenged persons.- Where an affidavit is sworn or affirmed by any person who appears to be illiterate, visually challenged or unacquainted with the language in which the affidavit is written, the attester shall certify that the affidavit was read, explained Or translated by him or in his presence to the deponent and that he seemed to understand it, and made his signature or mark in the presence of the attester in Form NCLT-14. 129. Identification of deponent.- .....

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ignation. PART XVII DISCOVERY, PRODUCTION AND RETURN OF DOCUMENTS 131. Application for production of documents, form of summons.-(1) Except otherwise provided hereunder, discovery or production and return Of documents shall be regulated by the provisions of the Code of Civil Procedure, 1908 (5 of 1908). (2) An application for summons to produce documents shall be on plain paper setting out the document the production of which is sought, the relevancy of the document and in case where the product .....

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for production of public document or other documents in the custody of a public officer. 133. Marking of documents.- (1)The documents when produced shall be marked as follows : (a) If relied upon by the appellant's or petitioner's side, they shall be numbered as 'A' series. (b) If relied upon by the respondent's side, they shall be marked as 'B' series. (c) The Tribunal exhibits shall be marked as series. (2) The Tribunal may direct the applicant to deposit with the .....

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documents produced subject to such conditions as it deems fit. PART XVIII EXAMINATION OF WITNESSES AND ISSUE OF COMMISSIONS 135. Procedure for examination of witnesses, issue of Commissions.- The provisions of the Orders XVI and XXVI of the Code of Civil Procedure, 1908 (5 Of 1908), shall mutatis mutandis apply in the matter Of summoning and enforcing attendance of any person and examining him on oath and issuing commission for the examination of witnesses or for production of documents. 136. E .....

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Court Officer as the case may be, as taken for examining a witness: "I do swear in the name of God/solemnly affirm that I will faithfully and truly interpret and explain all questions put to and evidence given by witness and translate correctly and accurately all documents given to me for translation. 139. Officer to administer oath.- The oath or affirmation shall be administered by the Court Master. 140. Form recording of deposition.- (1) The Deposition of a witness shall be recorded in F .....

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.- Witness discharged by the Tribunal may be granted a certificate in Form NCLT-17 by the Registrar. 143. Witness allowance payable.- (1) Where the Tribunal issues summons to a Government servant to give evidence or to produce documents, the person So summoned may draw from the Government travelling and daily allowances admissible to him as per rules. (2) Where there is no provision for payment of Travelling Allowances and Daily Allowance by the employer to the person summoned to give evidence o .....

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rections of the Tribunal. (5) The aforesaid provisions would govern the payment of batta to the interpreter as well. 144. Records to be furnished to the Commissioner.- (1) The Commissioner shall be furnished by the Tribunal with such of the records of the case as the Tribunal considers necessary for executing the Commission. (2) Original documents shall be furnished only if a copy does not serve the purpose or cannot be obtained without unreasonable expense or delay and delivery and return of re .....

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hat the Tribunal, after considering an appeal, may summarily dismiss the same, for reasons to be recorded, if the Tribunal is of opinion that there are no sufficient grounds for proceedings therewith. 147. Operative portion of the order.- All orders or directions of the Bench shall be stated in clear and precise terms in the last paragraph of the order. 148. Corrections.- Every Member of the Bench who has prepared the order shall initial all corrections and affix his initials at the bottom of ea .....

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esident or Member or Members constituting the Bench which heard the case and pronounced the order. (3) A certified copy of every order passed by the Tribunal shall be given to the parties. (4) The Tribunal, may transmit order made by it to any court for enforcement, on application made by either of the parties to the order or suo motu. (5) Every Order Or judgment or notice shall bear the seal of the Tribunal. 151. Pronouncement of order by any one member of the Bench.-(1) Any Member Of the Bench .....

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ounce the order on his behalf after being satisfied that the order has been duly prepared and signed by all the Members who heard the case. (2) The order pronounced by the Member so authorised shall be deemed to be duly pronounced. (3) The Member so authorised for pronouncement of the order shall affix his signature in the order sheet of the case stating that he has pronounced the order as provided in this rule. (3) If the order cannot be signed by reason of death, retirement or resignation or f .....

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d by or under these rules or granted by the Tribunal may have expired. 154. Rectification of Order.- (1 ) Any clerical or arithmetical mistakes in any order of the Tribunal or error therein arising from any accidental slip or omission may, at any time, be corrected by the Tribunal on its own motion or on application of any party by way of rectification. (2) An application under sub-Rule (1) may be made in Form No. NCLT. 9 within two years from the date of the final order for rectification of the .....

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t of an order by the Bench, the Court Master shall make necessary endorsement on the case file regarding the date of such pronouncement, the nature of disposal and the constitution of the Bench pronouncing the Order and he shall also make necessary entries in the court diary maintained by 157. Transmission of order by the Court Master.- (1) The Court Master shall immediately on pronouncement of order, transmit the order with the case file to the Deputy Registrar. (2) On receipt Of the order from .....

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on one side only on durable foolscap folio paper Of metric A-4 size (30.5 cm long and 21.5 cm wide) with left side margin of 5 cm and right side margin of 2.5 cm. Corrections, if any, in the order shall be carried out neatly and sufficient space may be left both at the bottom and at the top of each page of the order to make its appearance elegant. (2) Members constituting the Bench shall affix their signatures in the order of their seniority from right to left. 159. Indexing of case files after .....

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gister maintained at different sections or levels as per the directions of the Registrar. 161. Filing of Order of the Tribunal with the Registrar of Companies. - The certified copy of the order passed by the Tribunal shall be filed by the Company in form INC-28 alongwith fee of Rupees five hundred with the Registrar of Companies within the time specified in the Act or specified by the Tribunal. Where no time limit is prescribed by the Tribunal, such order shall be filed within thirty days from t .....

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rder folders and the indices may be made available for reference in the library to the legal practitioners. PART XX National Company Law Tribunal Orders 163. Register of Appeals, Petitions, etc.- (1) A Register in Form NCLT-18 shall be maintained in regard to appeals, petitions, etc., against the orders of the Tribunal to the National Company Law Appellate Tribunal and necessary entries therein be promptly made by the judicial branch. (2) The register shall be placed for scrutiny by the Presiden .....

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compliance. 165. Registrar to ensure compliance of National Company Law Appellate Tribunal orders.- It shall be the duty of the Registrar to take expeditious steps to comply with the directions of the National Company Law Appellate Tribunal. SCHEDULE OF FEES S.No. Section of the Companies Act, 2013 Nature of application /petition Fees 1. Sec. 2 (41) Application for change in financial year 5,000/- 2. sec. 7 (7) Application to Tribunal where company has been incorporated by furnishing false or in .....

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benture-trustees. 2.000/ - 9. Sec. 71 (10) Application in the event of failure of redeeming of debentures. 1,000/- 10. sec. 73 (4) Application by deposition for repayment of deposit or interest. 500/- 11. Sec. 74 (2) Application to allow further time as considered reasonable to the company to repay deposits. 5,000/- 12. Sec. 97 (1) Application for calling of Annual General meeting. 1,000/- 13. sec. 98 (1) Application for calling of general meeting of company other than annual general meeting 1,0 .....

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