Companies LawLegal Updates

MCA issues NCLT (Amendment) Rules 2019

NCLT Updates

MCA issues NCLT (Amendment) Rules 2019 (‘ Amended Rule’)  wherein Rule 71 (3) (b) and (4)  of NCLT Rules 2016 has been amended. The listed companies who file an application under the proviso of Section 61 (b) (1) of Companies Act 2013 were required to submit the acknowledgment due and notice with the copy of application to the Central Government, Registrar of Companies and to SEBI however as per the Amended rule the listed companies would be required to submit the acknowledgment due and notice with the copy of application to Regional Director. Thereafter, if there are any parties/ person who is likely to be affected by the proposed application received by the applicants then the respective parties/ person are required to serve the objection to Regional Director rather than the Central Government under Rule 71.

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