Prioritised NCLT Listing for Key Corporate and IBC Matters: ICSI’s Request to MCA

The Institute of Company Secretaries of India has formally approached the Ministry of Corporate Affairs with a focused request: to accord priority listing and quicker disposal of specific categories of matters pending before the National Company Law Tribunal. These matters pertain to Section 230–232 and Section 252 of the Companies Act, 2013, and Section 59 of the Insolvency and Bankruptcy Code, 2016.

The representation emphasises that proceedings under these provisions are not routine or procedural in nature; they directly influence ownership structures, corporate control, governance frameworks, and, in many cases, the very continuity of business operations. Prolonged pendency of such cases can lead to serious commercial and legal uncertainty for the concerned entities and their stakeholders.

Background of the Representation

On 30th March 2026, the Institute of Company Secretaries of India addressed a detailed communication (Reference: G$CL: MCA: MAR:07/2026) to the Secretary, Ministry of Corporate Affairs, Government of India, New Delhi. The representation was submitted by the President of the Institute, highlighting systemic concerns relating to listing and disposal practices at various Benches of the National Company Law Tribunal (NCLT).

The Institute acknowledged the proactive and responsive stance of the Ministry in addressing stakeholder concerns and, building on that foundation, placed specific suggestions for improving the handling of certain high-impact categories of NCLT matters.

Categories of Matters Covered

The representation focuses on matters arising under the following provisions:

  • Section 230–232 of the Companies Act, 2013
  • Section 252 of the Companies Act, 2013
  • Section 59 of the Insolvency and Bankruptcy Code, 2016

Matters under Section 230–232

Section 230–232 of the Companies Act, 2013 deal with compromises, arrangements and amalgamations. In practice, these provisions are often invoked for:

  • Schemes of arrangement between companies and their members or creditors
  • Mergers and amalgamations, including cross-border combinations where applicable
  • Corporate restructurings intended to rationalise shareholding, optimise business structure, or address financial stress

These schemes frequently involve:

  • Reorganisation of share capital and ownership
  • Transfer of business undertakings or assets
  • Consolidation or division of entities in a group

Any delay in finalising such schemes can affect:

  • Control and ownership rights of promoters and investors
  • Ability of the company to realign its business in response to market conditions
  • Implementation of strategic decisions tied to financing, investment, or divestment plans

Matters under Section 252

Section 252 of the Companies Act, 2013 concerns restoration of companies whose names have been struck off from the register of companies.