CURRENT AFFAIRS

2020

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The tenure of Shri BSV Prakash Kumar as acting President of National Company Law Tribunal (NCLT) has been extended by how many years?
A
5
B
3
C
2
D
6
Explanation: 

Detailed explanation-1: -Section 413(1) of the Companies Act 2013 stipulates that the term of a Member of the Tribunal shall be five years from the date on which he enters the office. A Member is eligible for reappointment for another term of five years.

Detailed explanation-2: -6. Every Member shall hold office for a period of five years from the date on which he/she enters upon his/her office, but shall be eligible for re-appointment for another term of 5 years. The term of appointment is, however, subject to the maximum age limit of sixty- five years.

Detailed explanation-3: -A BSV file is a list of image batch processing actions created by ImBatch, an image batch processing program. It is meant to be loaded in ImBatch and used to automatically perform adjustments to a set of images. BSV files contain XML text, which can be viewed in any text editor.

Detailed explanation-4: -The NCLT benches have been re-constituted with the remaining Members vide circulars dated 01.07. 2022. The Ministry of Corporate Affairs ("MCA") vide a notification dated 20.09. 2019 ("Notification") had appointed 23 NCLT Members for a term of 3 years or till the age of 65 years, whichever is earlier.

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