TMI BlogCHAPTER XXVII - NCLT salary of president & membersX X X X Extracts X X X X X X X X Extracts X X X X ..... e into force on the date of their publication in the Official Gazette. 2. Definitions. (1) In these rules, unless the context otherwise requires, - (a) "Act" means the Companies Act, 2013 ( of 2013); (b) "President" means the President of the Tribunal appointed under section 408 of the Act ; (c) "Tribunal " means the National Company Law Tribunal constituted under section 408 of the Act ; (2) Words and expressions used in these rules but not defined, shall have the same meanings respectively assigned to them in the Act. 3. Pay. (1) The President shall be entitled to a monthly salary, and to such allowances and other benefits, as are admissible to a High Court judge. (High Court of the Headquarter station of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and-4 (rupees 37400-67000) . Provided that the in the case of a retired member has been a member of the Indian corporate law service or Indian legal service and is in receipt of, or has received or has become entitled to receive any retirement benefits by way of pension, gratuity, employers contribution to the Contributory Provident Fund or other forms of retirement benefits, the pay of such member shall be reduced by the gross amount of pension or employers contribution to the Contributory Provident Fund or any other form of retirement benefits, if any (except pension equivalent of gratuity), drawn or to be drawn by him. Provided further that in case of serving member of Indian Corporate Law Service or serving member of Indian Legal Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etion of their tenure with the Tribunal to proceed to their home town) shall be entitled to the travelling allowance, daily allowance transportation of personal effects and other similar matters at the same rates as applicable to officers of the Central Government in Apex Grade (rupees eighty thousand-fixed) in the case of President and Grade Pay of rupees twelve thousand in the Pay Band-4 (rupees 37400-67000) in the case of Members. 8. Official visits abroad. Official visits abroad by the President or Members shall be undertaken only in accordance with orders issued by the Central Government and they shall be entitled to draw such allowances in respect of such visits as applicable to officers of the Central Government in Apex Grade ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les, for remainder period of his term. (2) Chairman, Vice-chairman and Members of the Company Law Board, who fulfill the qualifications and requirements provided under the Act shall continue to function as President or Members of the Tribunal only on the recommendations of the Chief Justice of India, in the case of the President, and on recommendation of Selection Committee, constituted under section 412 of the Act , in case of Members. (3) When a person who is in Government Service or employed in any Public Sector Undertaking or any Authority including Autonomous Body of the Government covered under para (3) of this Rule, he shall be entitled for all the service benefits till his superannuation. After the date of his superannuation, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relax:- The Central Government shall have power to relax any provision of these rules with respect to any class or category of persons. Form - I (See rule 11) Form of oath of office for President or Members of the National Company Law Tribunal "I, ............., having been appointed as President or member of the National Company Law Tribunal do solemnly affirm swear in the name of God that I will faithfully and conscientiously discharge my duties as President or member to the best of my ability, knowledge and judgment, without fear or favour, affection or ill-will." Signature: ................. Place: ................. Name: ................. Designation: ................. Date: ................. For ..... X X X X Extracts X X X X X X X X Extracts X X X X
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