Companies Act 2013 Updates

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Hon’ble Supreme Court confirms the Constitution of NCLT and NCLAT under Companies Act, Boxer Calvin Klein Baratos 2013

Supreme Court decided following issues :
(i) Challenge to the validity of the constitution of NCLT and NCLAT;
(ii) Challenge to the prescription of qualifications including term of their
office and salary allowances etc. Slip Calvin Klein Baratos Calvin Klein Bragas of President and Members of the NCLT
and as well as Chairman and Members of the NCLAT;
(iii) Challenge to the structure of the Selection Committee for
appointment of President/Members of the NCLT and Chairperson/
Members of the NCLAT

The Hon’ble Supreme Court observed that it seems the only step which is left to make NCLT

and NCLAT functional is to appoint President and Members of NCLT and

Chairperson and Members of NCLAT.