What are the matters handled by NCLT in Indore?
The National Company Law Tribunal (NCLT) bench in Indore handles a wide range of matters related to company law and insolvency. Here are the main categories of matters that are handled by the NCLT in Indore:
- Company Incorporation and Registration:
- Approving the incorporation of companies and registering changes to the company’s structure, including alteration of the memorandum and articles of association.
- Oppression and Mismanagement Cases:
- Addressing cases of alleged oppression and mismanagement in company affairs, which involve protecting the rights of minority shareholders and ensuring proper corporate governance.
- Conversion of Company:
- Processing applications for converting a public company into a private company or vice versa.
- Reduction of Share Capital:
- Reviewing applications seeking approval for reducing a company’s share capital, which can involve consolidation or division of shares.
- Corporate Insolvency Resolution Process (CIRP):
- Overseeing the resolution process for financially distressed companies that have defaulted on payments to creditors.
- Liquidation Cases:
- Handling cases where the corporate insolvency resolution process has not resulted in a successful resolution and the company is to be liquidated, with its assets sold to repay creditors.
- Individual Insolvency Cases:
- Dealing with insolvency proceedings against individuals, especially in cases involving personal guarantees provided by directors or promoters.
- Scheme of Arrangement:
- Approving schemes of arrangement for mergers, amalgamations, or reconstruction of business operations between companies.
- Winding Up of Companies:
- Reviewing applications for both voluntary and compulsory winding up of companies, either initiated by the company or its creditors/members.
- Class Action Suits:
- Handling class action suits filed by shareholders against companies for fraudulent or unfair practices that impact a large group of shareholders.
- Investor Protection:
- Ensuring companies comply with laws and regulations to protect the interests of investors and shareholders.
- Compounding of Offences:
- Allowing companies to pay penalties to avoid criminal prosecution for certain offences.
- Conversion of Companies:
- Granting approval for the conversion of a company’s legal structure from one type to another.
- Disqualification of Directors:
- Exercising authority to disqualify directors involved in fraudulent or unlawful activities.
- Enforcement of Corporate Governance Standards:
- Ensuring companies adhere to corporate governance standards and ethical business practices.
- Other Matters:
- Handling various other matters, including inspection and investigation of company affairs, as well as matters related to corporate law and insolvency.
It’s important to consult the official website of the Ministry of Corporate Affairs or the NCLT and seek legal advice from a NCLT Lawyer in Indore, to understand the specific jurisdiction, procedures, and regulations applicable to different types of cases that can be filed at the NCLT in Indore.
