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POWER AND FUNCTIONS OF PRESIDENT, REGISTRAR AND SECRETARY OF NATIONAL COMPANY LAW BOARD

Corporate Laws / Banking / SEBI - By: - Mr.M. GOVINDARAJAN - Dated:- 12-8-2016 - The Central Government, for the purposes of NCLT framed the The National Company Law Tribunal Rules, 2016 ( Rule for short) which came into effect from 21.07.2016. Part II of the Rule provides for the power and functions of the President, Registrar and Secretary. Functions of the President Section 409 of the Companies Act, 2013 ( Act for short) provides for the qualification of the President of NCLT. The President .....

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ll discharge their functions under the general superintendence and control of the President. The first proviso to Section 419 provides that it shall be competent for the Members of the Tribunal authorized in this behalf to function as a Bench consisting of a single Judicial Member and exercise the powers of the Tribunal in respect of such class of cases or such matters pertaining to such class of cases, as the President may, by general or special order, specify. The second proviso to Section 419 .....

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ding up of companies, constitute one or more Special Benches consisting of three or more Members, majority necessarily being of Judicial Members. Section 419 (5) provides that if the Members of a Bench differ in opinion on any point or points, it shall be decided according to the majority, if there is a majority, but if the Members are equally divided, they shall state the point or points on which they differ, and the case shall be referred by the President for hearing on such point or points by .....

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n Annual Report on the activities of the Tribunal; Transfer any case from one Bench to other Bench when the circumstances so warrant; To withdraw the work or case from the court of a member; Perform the functions entrusted to the President under these rules and such other powers as may be relevant to carry out his duties as head of the Tribunal while exercising the general superintendence and control over the administrative functions of the Members, Registrar, Secretary and other staff of the Tr .....

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defines the term Registrar as Registrar of the Tribunal and includes such other office of the Tribunal or Bench to whom the powers and functions of the Registrar is delegated. Rule 17 provides the functions of the Registrar. The Registrar shall have the following functions, namely- registration of appeals, petitions and applications; receive applications for amendment of appeal or the petition or application or subsequent proceedings; receive applications for fresh summons or notices and regardi .....

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djournments shall normally be sought before the concerned Bench in court and in extraordinary circumstances, the Registrar may, if so directed by the Tribunal in chambers, at any time adjourn any matter and lays the same before the Tribunal in chambers. Rule 90 (2) provides that when the sitting of a particular Bench is cancelled for the reason of inability of a Member of the Bench, the Registrar shall, unless otherwise directed, adjourn the cases posted before that Bench to a convenient date an .....

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