Section 300 of the Companies Act, 2013
Section 300 of the Companies Act, 2013 deals with “Application for permission or approval to the Tribunal.”
Section 300 – Application for Permission or Approval to the Tribunal
When required:
If any act, matter, or thing is required under the Companies Act, 2013 to be done only with the permission or approval of the Tribunal, such permission or approval must be obtained by making an application to the National Company Law Tribunal (NCLT).
Procedure:
The Tribunal may make rules or prescribe procedures for such applications.
Effect:
No act which requires Tribunal’s approval shall be valid unless the Tribunal grants such permission or approval.
Summary:
Section 300 mandates that whenever the Companies Act requires an act to be done with Tribunal’s approval, the concerned party must apply to the NCLT.
This centralizes the approval process to ensure proper legal oversight.
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