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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). The viability of class action suits under company law in India has been a cause for much debate, ever since Section 245 of the Companies Act, 2013 (“Act”) got notified on 1st June, 2016. 5 Under Sub section (1) of the Section 245 of the Act 6 As per Section 2(55) of the Companies Act, 2013 7 The ambit is also extended to depositors also along with members or any class of them under section 245 compared to section 241 of the Companies Act, 2013. The first amendment to this Act has received the assent of the President on May 25, 2015 and may be called the Companies (Amendment) Act, 2015 (21 of 2015). CimplyFive’s Text of Model Resolutions under the Companies Act, 2013; Fees calculator; Discussion Forum; Previous. BILL ANACT to amend the Companies Act [Assented 4th April, 2019] ENACTED by the Parliament of Trinidad and Tobago as follows: 1. However, the 2013 Act was silent on the percentage of members/depositors required to file a … The Government of India has the power to notify different provisions of the Act at different point of time. With the … The Exigency of situation compelled the law makers to initiate class action suits in the form of Section 245 Of Companies Act 2013. Who has the Right to apply under section 245? Next >> Act; Rules (0) ... Act Rules (0) Orders (0) Notification (0) Circulars (0) Register (0) Return (0) Schedule (1) Search for: IBC Section 245-Amendments of Act 9 of 1932. The ministry has made amendments to the National Company Law Tribunal Rules 2016 under the Companies Act, 2013 on Wednesday. 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). Class action suits are those suits which can be filed by a large number of people having the same interest instead of filing many … Situations where class action suit can be filed: A class action suit can be filed if members/ depositors are of the opinion that management or affairs of the company are The class action suits can be brought under section 245 of the Companies Act 2013. Introduction. The Companies Act, 2013 applies to the whole of India and is also applicable to certain companies or bodies corporate governed by Special Acts Substantial part of the Companies Act, 2013 will be in form of rules, to be prescribed separately. Sub - section (1) of section 245 states that such number of members, depositor or any class of them, as the case may be, may, file an application before the Tribunal . This Act comes into effect on such date as is fixed This Act may be cited as the Companies (Amendment) Act, 2019. 2. The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August, 2013. This an Act to consolidate and amend the law relating to companies. What is Section 245 of the Companies Act, 2013. All 438 sections of Companies Act are notified by the Ministry of Corporate Affairs (MCA) and majority of the Rules to the various Chapters/Sections of the Companies Act, 2013. All Sections. The viability of class action suits under company law in India has been a cause for much debate, ever since Section 245 of the Companies Act, 2013 (“Act”) got notified on 1 st June, 2016. ICAI Announcement (Amendment) for May 2017 - CA Final Students Applicability of provisions related to Prevention of Oppression and Mis- management covered under section 241 to 245 of the Companies Act, 2013 This is to bring to the notice of the students at the Final level that vide Notification S.O.1934 (E), dated 1st June 2016,…

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