Companies (Second Amendment) Act, 2002

Zenith Infotech Ltd filed a reference under the Sick Industrial Companies (Special Provisions) Act, 1985 before the Board for Industrial and Financial Reconstruction (BIFR). The Registrar of the Board refused to register the reference on the ground that the company was not an "industrial company" within the meaning of …

The Supreme Court examined the constitutional validity of Chapters 1B and 1C of the Companies Act, 1956 (as amended by the Companies (Second Amendment) Act, 2002) which created the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) and transferred the jurisdiction of High Court…

The appellant, a guarantor and director of a liquidated company, challenged the Punjab National Bank's attempt to recover a debt by filing execution petitions. The High Court transferred the third execution petition, filed in 1999, to the Debt Recovery Tribunal (DRT) invoking inherent powers. The Supreme Court held tha…