Comprehensive summaries of sessions enable an effective continuity in mental health counseling, facilitating informed therapy planning. Yet, manual summarization presents a significant challenge, diverting experts' attention from the core counseling process. This study evaluates the effectiveness of state-of-the-art Large Language Models (LLMs) in selectively summarizing various components of therapy sessions through aspect-based summarization, aiming to benchmark their performance. We introduce MentalCLOUDS, a counseling-component guided summarization dataset consisting of 191 counseling sessions with summaries focused on three distinct counseling components (aka counseling aspects). Additionally, we assess the capabilities of 11 state-of-the-art LLMs in addressing the task of component-guided summarization in counseling. The generated summaries are evaluated quantitatively using standard summarization metrics and verified qualitatively by mental health professionals. Our findings demonstrate the superior performance of task-specific LLMs such as MentalLlama, Mistral, and MentalBART in terms of standard quantitative metrics such as Rouge-1, Rouge-2, Rouge-L, and BERTScore across all aspects of counseling components. Further, expert evaluation reveals that Mistral supersedes both MentalLlama and MentalBART based on six parameters -- affective attitude, burden, ethicality, coherence, opportunity costs, and perceived effectiveness. However, these models share the same weakness by demonstrating a potential for improvement in the opportunity costs and perceived effectiveness metrics.