MCA UPDATE
Clarification on the jurisdiction of Division and Single Bench
NCLT has clarified vide order dated 06.07.2016 that the Division bench (DB) is entitled to function as a bench irrespective of any class of cases except those specified by an order of the President. Single Member Benches are authorized in addition to DB, the cases which have been transferred from erstwhile CLB and all new petitions where the company involved has paid-up Capital of Rs. 50 Lakh or less, if DB is available. However, where DB is not available, the pecuniary limit of Rs. 50 Lakh shall not apply.
