Justify the following statement:The Central Government has empowered N

1.	Justify the following statement:The Central Government has empowered NCLT with certain powers.
Answer» Meaning of NCLT: The Central Government has constituted National Company Law Tribunal in June 2016. The NCLT is a quasi-judicial body, which grants approvals and handles Corporate Civil disputes. Powers of NCLT: To hear and decide all proceedings related to compromise, arrangement, and reconstruction of a company. To hear and decide all winding up petitions on the ground of inability to pay its debts and on other grounds. To hear and decide petition for an extension of time for repayment of deposits. To hear and decide cases pertaining to oppression and mismanagement of a company. To call for holding AGM or EOGM of a company. To direct a company not to dispose of funds of a company and to freeze the assets of a company for being used against the interest of the company. To hear and decide grievances of rejection in transferring shares and securities.

Justify the following statement:The Central Government has empowered NCLT with certain powers.

Answer»

Meaning of NCLT:

The Central Government has constituted National Company Law Tribunal in June 2016.

The NCLT is a quasi-judicial body, which grants approvals and handles Corporate Civil disputes.

Powers of NCLT:

To hear and decide all proceedings related to compromise, arrangement, and reconstruction of a company.
To hear and decide all winding up petitions on the ground of inability to pay its debts and on other grounds.
To hear and decide petition for an extension of time for repayment of deposits.
To hear and decide cases pertaining to oppression and mismanagement of a company.
To call for holding AGM or EOGM of a company.
To direct a company not to dispose of funds of a company and to freeze the assets of a company for being used against the interest of the company.
To hear and decide grievances of rejection in transferring shares and securities.