The Ministry of Corporate Affairs(MCA) on 3rd February 2020 has published the National Company Law Tribunal (Amendment) Rules, 2020 to insert new Rule to deal with grievances with respect to the takeover offer of Unlisted Companies.
New Rule 80A according to which an application in Form NCLT-1 shall be filed before the tribunal by an aggrieved party in the event of any grievances with respect to the takeover offer of companies other than listed companies in such manner as may be prescribed and the Tribunal may, on application, pass such order as it may deem fit.
The Application fees in case of takeover offer of companies which are not listed shall be Rs.5000.
The list of documents to be attached with the above application shall be as follows:
- Affidavit verifying the petition
- Memorandum of appearance with copy of the Board’s Resolution or the executed vakalatnama, as the case may be.
- Documents in support of the grievance against the takeover.
- Any other relevant document.
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