supreme and its powers are unlimited and
courts have no power of judicial review of legislation.”
29. The NCLT is not even a Civil Court ... jurisdiction and powers conferred upon NCLT.
Jurisdiction and powers of NCLT
30. NCLT and NCLAT are constituted, not under the IBC,
2016 but under Sections
before the NCLT
in the pending Company Petition. He has submitted that the
Plaintiffs' contention that NCLT does not have power to order
specific ... granted against the NCLT carrying out a
valuation, as this would have the effect of restraining the NCLT
from exercising the powers given under
order promulgated by the NCLT, I produce Rule 11 of the NCLT Rules, 2016:
"11. Inherent Powers.- Nothing in these rules shall be deemed ... inherent powers of the
NCLT under Rule 11 of the NCLT Rules, 2016 do not permit the NCLT to
pass the impugned order.
Analysis
learned NCLT, completely
ignoring the specialized jurisdiction and wide powers conferred upon
the learned NCLT.
7. They relied upon Rules ... also take
note of the relevant rules in NCLT Rules, 2016 which stipulate the
powers of the Tribunal. The same are set out below
SCOPE OF SECTION 75 OF THE IBC ............................................... 30
C. RESIDUARY POWERS OF THE NCLT UNDER SECTION 60(5)(C)
OF THE IBC .............................................................................................. 31
D. NCLT ... aside
the order of the NCLT noting that under Section 65 of the IBC, the NCLT
does have powers to adjudicate upon the lis therein
NCLT are
broader and wider than what can be exercised by this Court in exercise of
civil jurisdiction under Section 9 of CPC. NCLT ... issues for which powers have been
conferred upon the Tribunal. For instance Rule 11 deals with inherent
powers of the NCLT to conduct a full
settled position of law that the scope of the powers of the NCLT
u/s 241 and 242 of the Companies Act, 2013 is limited ... that such Company disputes involved the exercise
of wide-ranging powers by the NCLT, which would affect the rights of
Shareholders and other Stakeholders
along
with the constitution of the NCLT. The NCLT has been vested with powers
that are far reaching in respect of management and administration ... under Section 242(2)(a) ,
as also various other specific powers. NCLT is a tribunal which has been
constituted to have exclusive jurisdiction
along with the
constitution of the NCLT. The NCLT has been vested with
powers that are far reaching in respect of management and
administration ... NCLT, because of the amount of time
which had already lapsed in the suit. However, the definitive ruling
apropos the NCLT having wide powers
Bill. Further, the 2011 Bill (like the 2009
Bill) retains the NCLT’s power to remove an auditor
upon finding that the auditor has perpetrated ... Supreme Court, the
Union of India invoked the Hon’ble NCLT’s powers under
the first proviso to Section
