The jurisdiction of CLB has been again extended to also include cases pertaining to rectification of register of members on matters other than transfer or transmission pursuant to section 59 of the new Companies Act

Nivedita Shankar

A revamp of Companies Act, 1956 (the Act, 1956) had been in the making for a long time and finally saw the light of the day with Companies Act, 2013 (the Act, 2013). With the use of the word ‘prescribed’ 416 times, it was obvious that a major part of the Act, 2013 was to be enforced by way of rules. However, on 12 September 2013, the Ministry of Corporate Affairs (MCA) issued notification to enforce 98 sections. This was hailed as a premature action of the MCA, case in point being sections relating to insider trading, powers of Board, reference to the National Company Law Tribunal (NCLT), which still required clarifications.

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