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MCA notified amendments to NCLT Rules

MCA notified amendments to NCLT Rules

Section 245 of the Companies Act, 2013 (2013 Act) deals with class action suit that can be filed by a certain number of members or depositors (or any class of members/depositors).

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Background

Section 245 of the Companies Act, 2013 (2013 Act) deals with class action suit that can be filed by a certain number of members or depositors (or any class of members/depositors).

However, the 2013 Act was silent on the percentage of members/depositors required to file a class action suit.

Recent development

On 8 May 2019, the Ministry of Corporate Affairs (MCA) has notified requisite percentage of the members/depositors who may apply for a class action suit.
This issue of First Notes provides an overview of amendments notified by the Ministry of Corporate Affairs(MCA) to the NCLT Rules.

To access the text of the MCA notification, please click here.
 

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