Chapter 27 - Corporate Law Reporter

Section 421 of Companies Act, 2013 – Appeal from Orders of Tribunal

SECTION 421. APPEAL FROM ORDERS OF TRIBUNAL [Effective from 1st June 2016] (1) Any person aggrieved by an order of the Tribunal may prefer an appeal to the Appellate Tribunal. (2) No appeal shall lie to the Appellate Tribunal from an order made by the Tribunal with the consent of parties. (3) Every appeal under… Read More

Section 420 of Companies Act, 2013 – Orders of Tribunal

SECTION 420. ORDERS OF TRIBUNAL [Effective from 1st June 2016] (1) The Tribunal may, after giving the parties to any proceeding before it, a reasonable opportunity of being heard, pass such orders thereon as it thinks fit. (2) The Tribunal may, at any time within two years from the date of the order, with a… Read More

Section 419 of Companies Act, 2013 – Benches of Tribunal

SECTION 419. BENCHES OF TRIBUNAL [Effective from 1st June 2016] (1) There shall be constituted such number of Benches of the Tribunal, as may, by notification, be specified by the Central Government. (2) The Principal Bench of the Tribunal shall be at New Delhi which shall be presided over by the President of the Tribunal.… Read More

Section 417 of Companies Act, 2013 – Removal of Members

SECTION 417. REMOVAL OF MEMBERS [Effective from 1st June 2016] (1) The Central Government may, after consultation with the Chief Justice of India, remove from office the President, Chairperson or any Member, who— (a) has been adjudged an insolvent; or (b) has been convicted of an offence which, in the opinion of the Central Government,… Read More

Section 418 of Companies Act, 2013 – Staff of Tribunal and Appellate Tribunal

SECTION 418. STAFF OF TRIBUNAL AND APPELLATE TRIBUNAL [Effective from 1st June 2016] (1) The [1] [Central Government] shall, in consultation with the Tribunal and the Appellate Tribunal, provide the Tribunal and the Appellate Tribunal, as the case may be, with such officers and other employees as may be necessary for the exercise of the… Read More

Section 416 of Companies Act, 2013 – Resignation of Members

SECTION 416. RESIGNATION OF MEMBERS [Effective from 1st June 2016] The President, the Chairperson or any Member may, by notice in writing under his hand addressed to the Central Government, resign from his office: Provided that the President, the Chairperson, or the Member shall continue to hold office until the expiry of three months from… Read More

Section 415 of Companies Act, 2013 – Acting President and Chairperson of Tribunal or Appellate Tribunal

SECTION 415. ACTING PRESIDENT AND CHAIRPERSON OF TRIBUNAL OR APPELLATE TRIBUNAL [Effective from 1st June 2016] (1) In the event of the occurrence of any vacancy in the office of the President or the Chairperson by reason of his death, resignation or otherwise, the senior-most Member shall act as the President or the Chairperson, as… Read More

Section 414 of Companies Act, 2013 – Salary, allowances and other terms and conditions of service of Members

SECTION 414. SALARY, ALLOWANCES AND OTHER TERMS AND CONDITIONS OF SERVICE OF MEMBERS [Effective from 12th September, 2013] The salary, allowances and other terms and conditions of service of the Members of the Tribunal and the Appellate Tribunal shall be such as may be prescribed: Provided that neither the salary and allowances nor the other… Read More

Section 413 of Companies Act, 2013 – Term of office of President, Chairperson and other Members

SECTION 413. TERM OF OFFICE OF PRESIDENT, CHAIRPERSON AND OTHER MEMBERS [Effective from 12th September, 2013] (1) The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another… Read More

Section 412 of Companies Act, 2013 – Selection of Members of Tribunal and Appellate Tribunal

SECTION 412. SELECTION OF MEMBERS OF TRIBUNAL AND APPELLATE TRIBUNAL [Effective from 12th September, 2013] (1) The President of the Tribunal and the chairperson and Judicial Members of the Appellate Tribunal, shall be appointed after consultation with the Chief Justice of India. [(2) The Members of the Tribunal and the Technical Members of the Appellate… Read More

Section 411 of Companies Act, 2013 – Qualifications of Chairperson and members of Appellate Tribunal

SECTION 411. QUALIFICATIONS OF CHAIRPERSON AND MEMBERS OF APPELLATE TRIBUNAL [Effective from 12th September, 2013] (1) The chairperson shall be a person who is or has been a Judge of the Supreme Court or the Chief Justice of a High Court. (2) A Judicial Member shall be a person who is or has been a… Read More

Section 410 of Companies Act, 2013 – Constitution of Appellate Tribunal

SECTION 410. CONSTITUTION OF APPELLATE TRIBUNAL [Effective from 12th September, 2013] The Central Government shall, by notification, constitute, with effect from such date as may be specified therein, an Appellate Tribunal to be known as the National Company Law Appellate Tribunal consisting of a chairperson and such number of Judicial and Technical Members, not exceeding eleven,… Read More

Section 409 of Companies Act, 2013 – Qualification of President and Members of Tribunal

SECTION 409. QUALIFICATION OF PRESIDENT AND MEMBERS OF TRIBUNAL [Effective from 12th September, 2013] (1) The President shall be a person who is or has been a Judge of a High Court for five years. (2) A person shall not be qualified for appointment as a Judicial Member unless he— (a) is, or has been,… Read More