NCLAT rules in case of MAIF Investment, that NCLT has jurisdiction to try all company matters including contentious and complex ones.
NCLAT considering section 430 of the Companies Act, 2013 which bars jurisdiction of Civil Court, has held that NCLT has jurisdiction to entertain and try all company matters including contentions and complex ones.
“For above reasons, we are of the view that with change of law now under section 59 of the Act, NCLT can deal with rectification and all questions including incidental and peripheral questions raised with regard to rectification for the purpose of deciding legality of the rectification. NCLT which exercises widest possible powers in a matter under Section 241, 242 of the Act, which ever otherwise is expected to always keep interest of the Company in forefront, cannot be treated as unequipped only because the Petition is under Section 59 of the Act. In the present matter, firstly, we are of the view that there were really no complex questions involved and even if it was to be said that there were any complex questions, the same had to be decided by the NCLT and in Appeal, this Tribunal is bound to consider whether or not entry made in the Register of Members could be upheld.”