TATA Sons’ conversion: No specific slur on Registrar of Companies, says NCLAT

Pronouncing its judgment on the RoC appeal on Monday, the NCLAT said, in the absence of any prescription of minimum paid-up share capital required for a private company, the RoC cannot wield any power or jurisdiction to carry out any changes in the Register of Companies or certificate of incorporation of Tata Sons and the Memorandum of Association of the Tata Sons.

While the Companies Act, 2013 defined a private company as one which has a minimum paid-up share capital “of one lakh rupees or such higher paid-up share capital”, the amendment to the Act that came into being with effect from May 29, 2015, omitted such threshold.