To File Petition in NCLT contact CA. K S KOHLI, at Ph no: 9810012983

To File Petition in NCLT contact CA. K S KOHLI,  at Ph no: 9810012983

Presentation of petition – NCLT

In this post, we will discuss matter presentation of petition or appeal before National Company Law Tribunal. This post is written with a view that reader may check documents just before reaching at filing counter of the Tribunal.

PRESENTATION

According to Rule 23(1) of National Company Law Tribunal Rules, 2016 every petition, application, caveat, interlocutory application, documents and appeal shall be presented in triplicate by the appellant or applicant or petitioner or respondent, as the case may be.

Such petition, application, caveat, interlocutory application, documents and appeal shall be presented by the appellant or applicant or petitioner or respondent, in person or by his duly authorised representative or by an advocate duly appointed in this behalf.

Such petition, application, caveat, interlocutory application, documents and appeal shall be in the prescribed form with stipulated fee at the filing counter and non-compliance of this may constitute a valid ground to refuse to entertain the same.

NUMBER OF COPIES TO BE FILED

According to Rule 24, the appellant or petitioner or applicant or respondent shall file three authenticated copies of appeal or petition or application or counter or objections, as the case may be, and shall deliver one copy to each of the opposite party.

VERIFIED AND CERTIFIED COPIES OF DOCUMENTS

According to Rule 23(2), every petition or application or appeal may be accompanied by documents duly certified by the authorised representative or advocate filing the petition or application or appeal.

Such the authorised representative or advocate will certify these documents after duly verify from the originals.

INDEX OF DOCUMENTS

According to Rule 23(3), all the documents filed in the Tribunal shall be accompanied by an index in triplicate containing their details and the amount of fee paid thereon.

NUMBER OF COPIES

According to Rule 23(4), sufficient number of copies of the appeal or petition or application shall also be filed for service on the opposite party.

ADVANCE COPIES

According to Rule 23(5), in the pending matters, all applications shall be presented after serving copies thereof in advance on the opposite side or his authorised representative.

PROCESSING FEE

According to rule 23(6), the processing fee prescribed by these rules, with required number of envelopes of sufficient size and notice forms shall be filled alongwith memorandum of appeal.

Address for service of summons

According to rule 21, the address for service of summons shall be filed with every appeal or petition or application or caveat on behalf of a party and shall as far as possible contain the following items namely:-

(a) the name of the road, street, lane and Municipal Division or Ward, Municipal Door and other number of the house;

(b) the name of the town or village;

(c) the post office, postal district and PIN Code, and

(d) any other particulars necessary to locate and identify the addressee such as fax number, mobile number, valid e-mail address, if any.

Endorsement and scrutiny of petition or appeal or document

ENDORSEMENT

According to sub –rule (1) of rule 28, the person in charge of the filing counter shall immediately on receipt of petition or appeal or application or document affix the date stamp of Tribunal thereon and also on the additional copies of the index. Thereafter he will return the acknowledgement to the party. He shall also affix his initials on the stamp affixed on the first page of the copies. He will enter the particulars of all such documents in the register after daily filing and assign a diary number which shall be entered below the date stamp. Thereafter he will cause it to be sent for scrutiny.

SCRUTINY

According to rule 28 (2), on scrutiny, if the appeal or petition or application or document is found to be defective, such document shall be returned for compliance. For returning registry shall give notice to the party.

 If there is a failure to comply within seven days from the date of return, the same shall be placed before the Registrar who may pass appropriate orders.

POWER OF REGISTRAR

According to rule 28 (3), the Registrar may for sufficient cause return the said document for rectification or amendment to the party filing the same.

The Registrar, for this purpose, may allow to the party concerned such reasonable time as he may consider necessary. The Registrar also have power to extend the time for compliance.

POWER TO DECLINE TO REGISTER

According to rule 28 (4), where the party fails to take any step for the removal of the defect within the time fixed for the same, the Registrar may decline to register the pleading or document. For such decision the Registrar shall recorded the reason in writing.

Registration number of proceedings admitted

According to rule 29, on admission of appeal or petition or caveat or application, the same shall be numbered and registered in the appropriate register maintained in this behalf and its number shall be entered therein.

Calling for records

According to rule 30, on the admission of appeal or petition or application the Registrar shall, if so directed by the Tribunal, call for the records relating to the proceedings from any adjudicating authority and retransmit the same.

Please note: This blog post is not a professional advice but just a knowledge sharing initiative for mutual discussion.

To File Petition in NCLT contact CA. K S KOHLI,  at Ph no: 9810012983

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To File Petition in NCLT contact CA. K S KOHLI, at Ph no: 9810012983

To File in NCLT contact CA. K S KOHLI,  at Ph no: 9810012983

Filing of petition, appeals etc in National Company Law Tribunal
Procedure.-
(1) Every appeal or petition or application or caveat petition or objection or counter presented to the Tribunal shall be in English and in case it is in some other Indian language, it shall be accompanied by a copy translated in English and shall be fairly and legibly type written, lithographed or printed in double spacing on one side of standard petition paper with an inner margin of about four centimeter width on top and with a right margin of 2.5. cm, and left margin of 5 cm, duly paginated, indexed and stitched together in paper book form;

(2) The cause title shall state “Before the National Company Law Tribunal” and shall specify the Bench to which it is presented and also set out the proceedings or order of the authority against which it is preferred.

(3) Appeal or petition or application or counter or objections shall be divided into paragraphs and shall be numbered consecutively and each paragraph shall contain as nearly as may be, a separate fact or allegation or point.

(4) Where Saka or other dates are used, corresponding dates of Gregorian Calendar shall also be given.

(5) Full name, parentage, age, description of each party and address and in case a party sues or being sued in a representative character, shall also be set out at the beginning of the appeal or petition or application and need not be repeated in the subsequent proceedings in the same appeal or petition or application.

(6) The names of parties shall be numbered consecutively and a separate line should be allotted to the name and description of each party.

(7) These numbers shall not be changed and in the event of the death of a party during the pendency of the appeal or petition or matter, his legal heirs or representative, as the case may be, if more than one shall be shown by sub-numbers.

(8) Where fresh parties are brought in, they may be numbered consecutively in the particular category, in which they are brought in.

(9) Every proceeding shall state immediately after the cause title the provision of law under which it is preferred.

21. Particulars to be set out in the address for service.- The address for service of summons shall be filed with every appeal or petition or application or caveat on behalf of a party and shall as far as possible contain the following items namely:-
(a) the name of the road, street, lane and Municipal Division or Ward, Municipal Door and other number of the house;
(b) the name of the town or village;
(c) the post office, postal district and PIN Code, and
(d) any other particulars necessary to locate and identify the addressee such as fax number, mobile number, valid e-mail address, if any.

Initialing alteration.- Every interlineations, eraser or correction or deletion in any appeal or petition or application or document shall be initialed by the party or his authorized representative presenting it.

Presentation of petition or appeal -
(1) Every petition, application, caveat, interlocutory application, documents and appeal shall be presented in triplicate by the appellant or applicant or petitioner or respondent, as the case may be, in person or by his duly authorised representative or by an advocate duly appointed in this behalf in the prescribed form with stipulated fee at the filing counter and non-compliance of this may constitute a valid ground to refuse to entertain the same.

(2) Every petition or application or appeal may be accompanied by documents duly certified by the authorised representative or advocate filing the petition or application or appeal duly verified from the originals.

(3) All the documents filed in the Tribunal shall be accompanied by an index in triplicate containing their details and the amount of fee paid thereon.

(4) Sufficient number of copies of the appeal or petition or application shall also be filed for service on the opposite party as prescribed under these rules.

(5) In the pending matters, all applications shall be presented after serving copies thereof in advance on the opposite side or his authorised representative.

(6) The processing fee prescribed by these rules, with required number of envelopes of sufficient size and notice forms shall be filled alongwith memorandum of appeal.

Number of copies to be filed.- The appellant or petitioner or applicant or respondent shall file three authenticated copies of appeal or petition or application or counter or objections, as the case may be, and shall deliver one copy to each of the opposite party.

Lodging of caveat.- (1) Any person may lodge a caveat in triplicate in any appeal or petition or application that may be instituted before this Tribunal by paying the prescribed fee after forwarding a copy by registered post or serving the same on the expected petitioner or appellant and the caveat shall be in the form prescribed and contain such details and particulars or orders or directions, details of authority against whose orders or directions the appeal or petition or application is being instituted by the expected appellant or petitioner or applicant which full address for service on other side, so that the appeal or petition or application could be served before the appeal or petition or interim application is taken up: Provided, that the Tribunal may pass interim orders in case of urgency.

(2) The caveat shall remain valid for a period of ninety days from the date of its filing.

Endorsement and Verification.- (1) At the foot of every petition or appeal or pleading there shall appear the name and signature of the authorised representative.
(2) Every petition or appeal shall be signed and verified by the party concerned in the manner provided by these rules.

Translation of document.- (1) A document other than English language intended to be used in any proceeding before the Tribunal shall be received by the Registry accompanied by a copy in English, which is agreed to by both the parties or certified to be a true translated copy by authorized representative engaged on behalf of parties in the case or by any other advocate or authorized representative whether engaged in the case or not or if the advocate or authorized representative engaged in the case authenticates such certificate or prepared by a translator approved for the purpose by the Registrar on payment of such charges as he may order.

(2) Appeal or petition or other proceeding shall not be set down for hearing until and unless all parties confirm that all the documents filed on which they intend to rely are in English or have been translated into English and required number of copies are filed into Tribunal.

28. Endorsement and scrutiny of petition or appeal or document.-(1) The person in charge of the filing counter shall immediately on receipt of petition or appeal or application or document affix the date stamp of Tribunal thereon and also on the additional copies of the index and return the acknowledgement to the party and he shall also affix his initials on the stamp affixed on the first page of the copies and enter the particulars of all such documents in the register after daily filing and assign a diary number which shall be entered below the date stamp and thereafter cause it to be sent for scrutiny.

(2) If, on scrutiny, the appeal or petition or application or document is found to be defective, such document shall, after notice to the party, be returned for compliance and if there is a failure to comply within seven days from the date of return, the same shall be placed before the Registrar who may pass appropriate orders.

(3) The Registrar may for sufficient cause return the said document for rectification or amendment to the party filing the same, and for this purpose may allow to the party concerned such reasonable time as he may consider necessary or extend the time for compliance.

(4) Where the party fails to take any step for the removal of the defect within the time fixed for the same, the Registrar may, for reasons to be recorded in writing, decline to register the pleading or document.

Registration of proceedings admitted.- On admission of appeal or petition or caveat or application, the same shall be numbered and registered in the appropriate register maintained in this behalf and its number shall be entered therein.

Calling for records.- On the admission of appeal or petition or application the Registrar shall, if so directed by the Tribunal, call for the records relating to the proceedings from any adjudicating authority and retransmit the same.

Production of authorization for and on behalf of an association.- Where an appeal or application or petition or other proceeding purported to be instituted by or on behalf of an association, the person or persons who sign (s) or verify (ies) the same shall produce along with such application, for verification by the Registry, a true copy of the resolution of the association empowering such person(s) to do so: Provided that the Registrar may at any time call upon the party to produce such further materials as he deems fit for satisfying himself about due authorization:

Provided further that it shall set out the list of members for whose benefit the proceedings are instituted.

Interlocutory applications.- Every Interlocutory application for stay, direction, condonation of delay, exemption from production of copy of order appealed against or extension of time prayed for in pending matters shall be in prescribed form and the requirements prescribed in that behalf shall be complied with by the applicant, besides filing an affidavit supporting the application.

Procedure on production of defaced, torn or damaged documents.- When a document produced along with any pleading appears to be defaced, torn, or in any way damaged or otherwise its condition or appearance requires special notice, a mention regarding its condition and appearance shall be made by the party producing the same in the Index of such a pleading and the same shall be verified and initialed by the officer authorized to receive the same.

To File in NCLT contact CA. K S KOHLI,  at Ph no: 9810012983

Interlocutory applications: NCLT

Interlocutory applications:

The meaning of the word interlocutory is interim or provisional which is not finalized yet. The Interlocutory actions are taken by the courts only when a Question of Law has to be answered by an appellate court before a trail may proceed. Another reason for issuance of interlocutory order is prevention from irreparable harm that could be occurred to the person or property during the pendency of law suits or proceeding.

Draft Petition before NCLT to restore the Company under Section 252 of Companies Act 2013

National Company Law Tribunal - To get Draft Petition before NCLT to restore the Company under Section 252 of Companies Act 2013

Get in touch with :

CA. K S KOHLI, MOB. 9810012983
OFFICE : NARAINA, NEW DELHI

What is FORM 26QC ?

What is FORM  26QC ?

The active payment challan format not yet  launched. 

What is FORM 26QC ?

SECTION 194IB – TDS ON RENT (FOR INDIVIDUALS & HUF)

What is FORM  26QC ?

From 1^st June, 2017 individuals & HUF’s who are not under Tax audit(under section 44AB) while paying the rent of Rs. 50,000 or more (for a month) needs to deduct 5% TDS from the rent as per section 194IB.

TDS shall be paid to the credit of Central Government and be deposited in the authorized bank within 30 days from the end of month when tax was deducted.

This deposit has to be accompanied by the newly introduced challan-cum-statement of deduction of tax in Form No. 26QC.

This payment needs to be made in electronic mode. The active payment challan format not yet  launched.

What is  Form 16C ?

Form 16C is the newly introduced TDS certificate to be issued by rent payer (deductor) i.e. individuals & HUF’s who are not under Tax audit (under section 44AB), paying a rent of Rs. 50,000/- or above per month, to the rent receiver (deductee) as per section 194IB.

Form 16C contains the following details of the deductor and deductee i.e. name, address and PAN and other details like certificate number, financial year of deduction, unique acknowledgement number, amount paid, date, amount of tax deducted and deposited and challan details.

-          tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QC electronically within thirty days from the end of the month in which the deduction is made.”

-          certificate of deduction of tax at source in Form No.16C within fifteen days from the due date for furnishing the challan, rule 31A after generating and downloading the same from the web portal

SECTION 194IB – TDS ON RENT (FOR INDIVIDUALS & HUF)

SECTION 194IB – TDS ON RENT (FOR INDIVIDUALS & HUF)

What is FORM  26QC ?

From 1^st June, 2017 individuals & HUF’s who are not under Tax audit(under section 44AB) while paying the rent of Rs. 50,000 or more (for a month) needs to deduct 5% TDS from the rent as per section 194IB.

TDS shall be paid to the credit of Central Government and be deposited in the authorized bank within 30 days from the end of month when tax was deducted.

This deposit has to be accompanied by the newly introduced challan-cum-statement of deduction of tax in Form No. 26QC.

This payment needs to be made in electronic mode. The active payment challan format not yet  launched.

What is  Form 16C ?

Form 16C is the newly introduced TDS certificate to be issued by rent payer (deductor) i.e. individuals & HUF’s who are not under Tax audit (under section 44AB), paying a rent of Rs. 50,000/- or above per month, to the rent receiver (deductee) as per section 194IB.

Form 16C contains the following details of the deductor and deductee i.e. name, address and PAN and other details like certificate number, financial year of deduction, unique acknowledgement number, amount paid, date, amount of tax deducted and deposited and challan details.

-          tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QC electronically within thirty days from the end of the month in which the deduction is made.”

-          certificate of deduction of tax at source in Form No.16C within fifteen days from the due date for furnishing the challan, rule 31A after generating and downloading the same from the web portal

How is 'Services' defined in GST?

How is 'Services' defined in GST?

Services is defined in GST as anything other than goods.

Money and securities have specifically been excluded from the definition of services. However specified transactions in money have been included – activity relating to the use of money or its conversion by cash or by any other mode, from one form, currency or denomination to another form, currency or denomination for which a separate consideration is charged.
Thus the meaning of service is much enlarged from the existing meaning in service tax law. There was  a view that real estate can now be termed as service as it is not “goods”. However,in the final CGST Act sale of land and buildings has been listed as one of the transactions that will be treated as neither a supply of goods or of service under Schedule III of the CGST Act.

What is the meaning of supply under GST?

What is the meaning of supply under GST?

Supply is defined to include all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business. It also includes importation of services for a consideration whether or not in the course or furtherance of business.

Normally a supply will involve two independent persons. However, GST makes transactions between two branches of the same legal entity in different States/ countries or two different registrations within the same State also taxable under GST.

Transactions of supply of goods between principals and agents which are not subject to tax in present regime are taxable supplies under GST as these have been treated as supplies under Schedule I of the CGST Act.

The definition of supply is inclusive and thus of the widest possible connotation.

What is the charging event for levy of GST?

What is the charging event for levy of GST?

The charging event of levy is the event which determines whether an activity attracts the charge. However tax may be collected before or after the event for the sake of administrative certainty or convenience.
GST is leviable on-

•   Supply of

•   Goods /or services

•   By a taxable person

•   At value determined and at such rate as may be notified by Central/State    Government on recommendation of the GST Council

•   And collected in the manner as prescribed.

What are the unique features of Indian GST?

What are the unique features of Indian GST?

GST will be a dual levy in India and the eligible transactions will be subject to levy of both Central Tax and State Tax. There shall be Integrated Tax by Centre in the case of inter-State supplies and imports/ exports. Certain goods and services will be subject to a further levy of GST Compensation Cess. Supplies to or from Union Territories will also be treated as inter-State supplies. Supplies within a Union Territory without legislature will be charged to UT Tax. Certain products are out of the ambit of GST e.g. petroleum products, tobacco and tobacco products etc.

There will be a single common market with goods and services moving seamlessly in the entire country. Tax credits would be available even on inter-State supplies

Threshold limit for exemption to be Rs. 20 lac (Rs. 10 lac for special category States)
 Compounding threshold limit to be Rs. 50 lac with -

 Government may convert existing Area based exemption schemes into reimbursement based scheme

 Four tax rates namely 5%, 12%, 18% and 28%

 Some goods and services would be exempt

 Separate tax rate for precious metals 

Which of the existing taxes are not subsumed under GST?

Which of the existing taxes are not subsumed under GST?

The GST will not replace the following taxes:

• Taxes currently levied and collected by the Centre: Taxes on income, wealth or gifts (never included in a GST kind of tax); Basic Customs Duty (never included in GST, being tariff barrier); Duty of Excise on tobacco and tobacco products (normally levied over and above GST); Terminal taxes on goods or passengers, carried by railway, sea or air; taxes on railway fares and freights; Central Stamp Duties; Oil Industries Development Act Cess (OIDB Cess) (as petroleum is kept outside GST); Clean Environment Cess. [GST (Compensation to States) Act, 2017 has proposed levy of cess on all goods which are presently subject to Clean Environment Cess at the rate on which such cess is levied presently. This indicates Government’s decision to abolish levy of cess in current form but recover it in a different form The cess levied under GST (Compensation to States) Act will be eligible for input tax credit for payment of cess levied under the same Act as against present levy which is not eligible for input tax credit.]  
• State taxes that would not be subsumed under the GST are: Fees in respect of markets and fairs (Mandi fees); Taxes on lands and buildings (property tax); State Stamp Duties; Taxes on mineral rights; Electricity Duty; Taxes on goods and passengers carried by road or on inland waterways; Taxes on vehicles (Road Transport Authority); Tolls; Taxes on professions, trades, callings and employments; Entertainment tax by local bodies