Role of Special Courts under Companies Act, 2013
Volume III, Issue III, 2020
A constant delay in the trials and disposal of the cases have affected the interest of many corporates and the parties related to the companies. Scams happening all around the country and their increasing number have raised many questions which were not answered even in the higher courts due to pendency of so many corporate cases before the tribunal. The enactment of the Companies0Act, 2013 (or the ‘Act’) was one of India’s most important and significant legal reforms in the recent past to bring the Indian company law into line with worldwide norms. The present paper deals with the provisions which have been incorporated in the Companies Act, 2013, for the establishment of Special Courts as they are of great significance which leads to the speedy trial of all the offences mentioned under the Act and will also help in the good governance of the Company. It may be noted here that the Special courts are being established for stricter compliance of the company laws and for the benefit of the stakeholders. Special courts were set up by the government so as to induce the companies to comply with the various provisions of the new Companies Act. The constitution of Special courts as judicial authority and National Company Law Tribunal (NCLT) as quasi-judicial authority are the key changes brought in the corporate regime of our country.