The 768-page book has 7 units, 66 chapters and over 100 flowcharts explaining various provisions and processes
Industrialists, Lawyers and Chartered Accountants who gathered for a book launch by Sridhanya Foundation called the National Company Law Tribunal (NCLT) a powerful tool.
The Centre has constituted NCLT under Section 408 of the Companies Act, 2013 (18 of 2013) from June 2016. “The NCLT is a powerful tribunal,” Justice N. Kirubakaran, judge, Madras High Court, said after releasing the book Guide to National Company Law Tribunal and Appellate Tribunal authored by CS S. Dhanapal, practising company secretary and insolvency professional. He also appreciated Mr. Dhanapal’s efforts to bring this book out.
N. Ram, Chairman, The Hindu Publishing Group, said the book was comprehensive, clear and done with professional expertise. “Insolvency of individuals and partnerships have also been brought under insolvency code and there are many unresolved matters. One thing that struck me was in India where many companies are controlled by promoters the concern is that who is going to run them after they go through the liquidation process,” Mr. Ram said.
C.K. Ranganathan, Chairman and Managing Director of CavinKare Pvt. Ltd, said that one of the main concerns for the industry was company related cases were getting delayed. “Now with NCLT we are seeing speedy clearance,” he said.
R. Subramania Kumar, Managing Director and CEO of IOB, said that according to the World Bank’s ease of doing business insolvency resolution on an average took 4.3 years in India (higher when compared to other economies across the globe). “But this has now become 180 days,” he said.
The 768-page book by Mr. Dhanapal has 7 units, 66 chapters and over 100 flowcharts explaining various provisions and processes.