Chapter 27 - Corporate Law Reporter

Section 431 of Companies Act, 2013 – Vacancy in Tribunal or Appellate Tribunal Not To Invalidate Acts or Proceedings

SECTION 431. VACANCY IN TRIBUNAL OR APPELLATE TRIBUNAL NOT TO INVALIDATE ACTS OR PROCEEDINGS [Effective from 1st June 2016] No act or proceeding of the Tribunal or the Appellate Tribunal shall be questioned or shall be invalid merely on the ground of the existence of any vacancy or defect in the constitution of the Tribunal… Read More

Section 433 of Companies Act, 2013 – Limitation

SECTION 433. LIMITATION [Effective from 1st June 2016] The provisions of the Limitation Act, 1963 (36 of 1963) shall, as far as may be, apply to proceedings or appeals before the Tribunal or the Appellate Tribunal, as the case may be. Read More

Section 432 of Companies Act, 2013 – Right to legal representation

SECTION 432. RIGHT TO LEGAL REPRESENTATION [Effective from 1st June 2016] A party to any proceeding or appeal before the Tribunal or the Appellate Tribunal, as the case may be, may either appear in person or authorise one or more chartered accountants or company secretaries or cost accountants or legal practitioners or any other person… Read More

Section 430 of Companies Act, 2013 – Civil court not to have jurisdiction

SECTION 430. CIVIL COURT NOT TO HAVE JURISDICTION [Effective from 1st June 2016] No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Tribunal or the Appellate Tribunal is empowered to determine by or under this Act or any other law for the time being in… Read More

Section 434 of Companies Act, 2013 – Transfer of certain pending proceedings

SECTION 434. TRANSFER OF CERTAIN PENDING PROCEEDINGS [Effective from 1st June 2016, except sub-section (1) (d), clause (c) of sub-section (1) effective from 15th December, 2016] [1] [(1) On such date as may be notified by the Central Government in this behalf,— (a) all matters, proceedings or cases pending before the Board of Company… Read More

Section 429 of Companies Act, 2013 – Power to seek assistance of Chief Metropolitan Magistrate, etc.

SECTION 429. POWER TO SEEK ASSISTANCE OF CHIEF METROPOLITAN MAGISTRATE, ETC. [Effective from 1st June 2016] (1) The Tribunal may, in any proceeding relating to a sick company or winding up of any other company, in order to take into custody or under its control all property, books of account or other documents, request, in… Read More

Section 428 of Companies Act, 2013 – Protection of action taken in good faith

SECTION 428. PROTECTION OF ACTION TAKEN IN GOOD FAITH [Effective from 1st June 2016] No suit, prosecution or other legal proceeding shall lie against the Tribunal, the President, Member, officer or other employee, or against the Appellate Tribunal, the Chairperson, Member, officer or other employees thereof or liquidator or any other person authorised by the… Read More

Section 427 of Companies Act, 2013 – President, Members, officers, etc., to be public servants

SECTION 427. PRESIDENT, MEMBERS, OFFICERS, ETC., TO BE PUBLIC SERVANTS [Effective from 1st June 2016] The President, Members, officers and other employees of the Tribunal and the Chairperson, Members, officers and other employees of the Appellate Tribunal shall be deemed to be public servants within the meaning of section 21 of the Indian Penal Code… Read More

Section 426 of Companies Act, 2013 – Delegation of powers

SECTION 426. DELEGATION OF POWERS [Effective from 1st June 2016] The Tribunal or the Appellate Tribunal may, by general or special order, direct, subject to such conditions, if any, as may be specified in the order, any of its officers or employees or any other person authorised by it to inquire into any matter connected… Read More

Section 425 of Companies Act, 2013 – Power to punish for contempt

SECTION 425. POWER TO PUNISH FOR CONTEMPT [Effective from 1st June 2016] The Tribunal and the Appellate Tribunal shall have the same jurisdiction, powers and authority in respect of contempt of themselves as the High Court has and may exercise, for this purpose, the powers under the provisions of the Contempt of Courts Act, 1971 (70… Read More

Section 424 of Companies Act, 2013 – Procedure before Tribunal and Appellate Tribunal

SECTION 424. PROCEDURE BEFORE TRIBUNAL AND APPELLATE TRIBUNAL [Effective from 1st June 2016] (1) The Tribunal and the Appellate Tribunal shall not, while disposing of any proceeding before it or, as the case may be, an appeal before it, be bound by the procedure laid down in the Code of Civil Procedure, 1908 (5 of… Read More

Section 423 of Companies Act, 2013 – Appeal to Supreme Court

SECTION 423. APPEAL TO SUPREME COURT [Effective from 1st June 2016] Any person aggrieved by any order of the Appellate Tribunal may file an appeal to the Supreme Court within sixty days from the date of receipt of the order of the Appellate Tribunal to him on any question of law arising out of such… Read More

Section 422 of Companies Act, 2013 – Expeditious disposal by Tribunal and Appellate Tribunal

SECTION 422. EXPEDITIOUS DISPOSAL BY TRIBUNAL AND APPELLATE TRIBUNAL [Effective from 1st June 2016] (1) Every application or petition presented before the Tribunal and every appeal filed before the Appellate Tribunal shall be dealt with and disposed of by it as expeditiously as possible and every endeavour shall be made by the Tribunal or the… Read More