CLB is not a ‘court’ for purpose of section 5 of the Limitation Act, 1963
Shubham Budhiraja [1] By virtue of probate of will in 1990, Mr. A in 2013 applied for registration of transmission of shares under Section 58 of Companies Act, 2013 with an application for condonation of delay. The Ld. CLB condoned the delay and High Court upheld the same. The Hon’ble Supreme Court held that Companies Act, 2013 is enforced in the phase manner. Though Section 58 was enforced in 2013 but the appeal provision to NCLT, NCLAT was enforced in 2016. The Section 433 which enables application of limitation act was also enforced from 2016 only. Hence, as on 2013, the CLB was court only for limited purpose but not a ‘court’ for purpose of limitation because the provision of limitation act, 1963 was not made applicable to CLB under the Companies Act, 1956. Meaning thereby, the CLB was not empowered to condone the delay. 1. In order to ensure a smooth transition into the new framework, the Act, 2013 was implemented in...