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Test: National Company Law Tribunal (NCLT) Part 1 - B Com MCQ


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10 Questions MCQ Test - Test: National Company Law Tribunal (NCLT) Part 1

Test: National Company Law Tribunal (NCLT) Part 1 for B Com 2024 is part of B Com preparation. The Test: National Company Law Tribunal (NCLT) Part 1 questions and answers have been prepared according to the B Com exam syllabus.The Test: National Company Law Tribunal (NCLT) Part 1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: National Company Law Tribunal (NCLT) Part 1 below.
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Test: National Company Law Tribunal (NCLT) Part 1 - Question 1
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Which section of the Companies Act, 2013 contains the provisions for the constitution of the National Company Law Tribunal (NCLT)?

Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 1
The provisions for the constitution of the National Company Law Tribunal (NCLT) are contained in Section 408 of the Companies Act, 2013. According to this section, the Central Government is responsible for constituting the NCLT with a President and a specified number of Judicial and Technical members. The NCLT is given the authority to exercise and discharge powers and functions conferred by the Act or any other law.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 2
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What is the minimum qualification required for appointment as a Judicial Member of the National Company Law Tribunal (NCLT)?

Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 2
A person can be appointed as a Judicial Member of the NCLT if they fulfill any one of the following qualifications: A judge of a High Court A District Judge for at least five years An advocate of a court for at least ten years
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Test: National Company Law Tribunal (NCLT) Part 1 - Question 3
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What is the role of the Chairperson of the National Company Law Appellate Tribunal (NCLAT)?

Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 3
The Chairperson of the National Company Law Appellate Tribunal (NCLAT) is responsible for presiding over the hearings conducted by the Appellate Tribunal. The NCLAT is designated to hear appeals against the orders of the NCLT.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 4
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Which selection committee is responsible for recommending the appointment of Technical Members of the Appellate Tribunal?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 4
The selection committee responsible for recommending the appointment of Technical Members of the Appellate Tribunal consists of various members, including the Secretary in the Ministry of Corporate Affairs. The committee also includes members from the judiciary and relevant government departments.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 5
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What is the term of office for a Member of the National Company Law Tribunal (NCLT)?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 5
A Member of the National Company Law Tribunal (NCLT) holds office for a term of five years from the date they enter upon their office. They are eligible for reappointment for another term of five years.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 6
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In case of a vacancy in the office of the President or Chairperson of the Tribunal, who acts as their replacement?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 6
In the event of a vacancy in the office of the President or Chairperson of the Tribunal, the senior-most Member takes on the role of the President or Chairperson, respectively, until a new appointment is made.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 7
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What is the maximum age limit for a Member of the Appellate Tribunal (except the Chairperson)?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 7
A Member of the Appellate Tribunal (excluding the Chairperson) holds office until they attain the age of sixty-five years. The Chairperson, however, can hold office until the age of seventy years.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 8
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Who determines the salary, allowances, and other terms of service of the Members of the Tribunal and the Appellate Tribunal?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 8
The salary, allowances, and other terms of service of the Members of the Tribunal and the Appellate Tribunal are determined by the Central Government. These terms are prescribed by the government, and they cannot be varied to the disadvantage of the Members after their appointment.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 9
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How many Benches of the Tribunal can be constituted by the Central Government?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 9
The Central Government has the authority to constitute a specific number of Benches of the Tribunal. In this case, the government has constituted eleven Benches of the National Company Law Tribunal (NCLT) across different cities in India.
Test: National Company Law Tribunal (NCLT) Part 1 - Question 10
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Under which section of the Companies Act, 2013 can a Member of the Tribunal, Appellate Tribunal, or Chairperson be removed from office?
Detailed Solution for Test: National Company Law Tribunal (NCLT) Part 1 - Question 10
The removal of a Member of the Tribunal, Appellate Tribunal, or Chairperson is governed by Section 417 of the Companies Act, 2013. The Central Government, after consultation with the Chief Justice of India, can remove a Member or Chairperson for various reasons specified in the section. The concerned individual is provided a reasonable opportunity to be heard before removal.
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