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NATIONAL COMPANY LAW APPELLATE TRIBUNAL

Corporate Laws / Banking / SEBI / LLP - By: - Mr. M. GOVINDARAJAN - Dated:- 16-4-2015 - Constitution Section 410 of the Act provides that the Central Government shall, by notification, constitute, with effect from such date as may be prescribed therein, the Appellate Tribunal to be known as the consisting of a Chairperson and such number of Judicial and Technical Members, not exceeding eleven, as the Central Government may deem fit, to be appointed by it, by notification, for hearing appeals aga .....

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a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years. Section 413 (4) provides that the Chairperson shall hold office as such until he attains the age of seventy years. Resignation of Chairman Section 416 provides that the Chairman of the Appellate Tribunal may, by notice in writing under his hand addressed to the Central Government resign from his office. The Chairman shall continue to hold office until t .....

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vernment, involves moral turpitude; or has become physically or mentally incapable of acting as such Chairman; or has acquired such financial or other interests as is likely to affect prejudicially his functions as Chairman; or has so abused his position as to render his continuance in office prejudice to the public interest. The Chairman shall not be removed on any of the grounds specified in clauses (b) to (e) without giving him a reasonable opportunity of being heard. Section 417 (2) provi .....

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des that the Central Government shall, after consultation with the Supreme Court make rules to regulate the procedure for the inquiry on the ground of proved mis behavior or incapacity referred to in Section 417(2). Suspension of Chairman Section 417(3) provides that the Central Government may, with the concurrence of the Chief Justice of India, suspend from office the Chairman in respect of whom reference has been made to the Judge of the Supreme Court under Section 417 (2) until the Central Go .....

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ides that a Judicial member shall be a person who is or has been a Judge of a High Court or is a Judicial Member of the Tribunal for five years. is, or has been, a District Judge for at least five years; or Technical Member Section 407(e) defines the term Technical member as a member of the Appellate Tribunal appointed as such. Qualification of Technical Member Section 411 (3) of the Act provides that a Technical Member shall be a person of proven ability, integrity and standing having special k .....

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ice of India or his nominee - Chairperson; A Senior Judge of the Supreme Court or a Chief Justice of High Court - Member; Secretary in the Ministry of Corporate Affairs - Member; Secretary in the Ministry of Law and Justice - Member; and Secretary in the Department of Financial Services in the Ministry of Finance - Member. The Secretary, Ministry of Corporate Affairs shall be the Convener of the Selection Committee. The Selection Committee shall determine its procedure for recommending perso .....

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te on which he enters upon his office but shall be eligible for re-appointment for another term of five years. Section 413(4) provides that a member of the Appellate Tribunal shall hold office as such until he attains the age of sixty five years. Lien The second proviso to Section 413(2) provides that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year. Resignation of Member Section 4 .....

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e of any vacancy in the office of the Chairperson of the Appellate Tribunal, by reason of his death, resignation or otherwise, the senior most member shall act as the Chairperson of the Appellate Tribunal until the date on which a new Chairperson appointed in accordance with the provisions of this Act to fill such vacancy, enters upon his office. Removal of Members Section 417 provides that the Central Government may, after consultation with the Chief Justice of India, remove from office any mem .....

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specified in clauses (b) to (e) without giving him a reasonable opportunity of being heard. Section 417 (2) provides that without prejudice to the provisions of Section 417(1), the Member shall not be removed from his office except by an order made by the Central Government on the ground of proved misbehavior or incapacity after an inquiry made by a Judge of the Supreme Court nominated by the Chief Justice of India on a reference made to him by the Central Government in which such Member had bee .....

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whom reference has been made to the Judge of the Supreme Court under Section 417 (2) until the Central Government has passed orders on receipt of the report of the Judge of the Supreme Court on such reference. Filing appeal before the Appellate Tribunal Section 421 provides the procedure for filing appeal before the Appellate Tribunal as detailed below: No appeal shall lie to the Appellate Tribunal from an order made by the Tribunal with the consent of parties; Every appeal shall be filed with .....

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hat period; On the receipt of an appeal, the Appellate Tribunal shall, after giving the parties a reasonable opportunity of being heard, pass such orders thereon as it thinks fit, confirming, modifying or setting aside the order appealed against; The Appellate Tribunal shall send a copy of every order made by it to the Tribunal and the parties to appeal. Expeditious disposal by Tribunal Section 422 of the Act provides that every appeal presented before the Appellate Tribunal shall be dealt wit .....

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recorded, extend the period by such period not exceeding ninety days as he may consider necessary. Procedure before Appellate Tribunal Section 424 provides that the Appellate Tribunal while disposing of an appeal before it, shall not be bound by the procedure laid down in the Code of Civil Procedure, 1908 but shall be guided by the principles of natural justice, and, subject to the other provisions of this Act and of any rules made there under, the Tribunal shall have power to regulate their ow .....

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t, 1872 requisitioning any public record or document or a copy of such record or document from any office; issuing commissions for the examination of witnesses or documents; dismissing a representation for default or deciding it ex-parte; setting aside any order of dismissal of any representation for default or any order passed by it ex-parte; and any other matter which may be prescribed. Execution of order Section 424(3) provides that any order made by the Appellate Tribunal may be enforced .....

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unish for contempt Section 425 provides that 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 purposes, the powers under the provisions of the Contempt of Courts Act, 1971 which shall have the effect subject to modifications that- the reference therein to a High Court shall be construed as including a reference to the Tribunal; and the reference to Advocate-General in Section 15 o .....

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se before the Tribunal or Appellate Tribunal as the case may be. Limitation Section 433 provides that the provisions of the Limitation Act, 1963 shall, as far as may be, apply to proceedings before the Tribunal or appeal before the Appellate Tribunal. Civil Court has no jurisdiction Section 430 provides that no civil court shall have jurisdiction to entertain any suit or proceedings in respect of any matter which the Tribunal or the appellate Tribunal is empowered to determine by or under this A .....

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hall be invalid merely on the ground of the existence of any vacancy or defect in the constitution of the Tribunal or the Appellate Tribunal, as the case may be. Judicial proceedings Section 424 (4) provides that all proceeding s before the Tribunal or the Appellate Tribunal shall be deemed to be judicial proceedings within the meaning of sections 193 and 228 and for the purposes of section 196 of the Indian Penal Code and the Tribunal and the Appellate Tribunal shall be deemed to be civil court .....

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President, or as the case may be, the Chairperson, or any other Member to whom powers for exercising such superintendence and control are delegated by him. The pay and allowances and other conditions of service of the officers and the employees of the Tribunal and the Appellate Tribunal shall be such as may be prescribed. President, Members, Officers etc., to be public servants Section 427 provides that the President, Members, Officers and employees of the Tribunal and the Chairperson, Members, .....

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e, appeal before it and report to it in such manner as may be specified in the order. Protection of action taken in good faith Section 428 provides that no suit, prosecution or other legal proceedings 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 authorized by the Tribunal or the Appellate Tribunal for the discharge of any function un .....

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the appellant was prevented by sufficient cause from filing the appeal within sixty days, allow it to be filed within a further period not exceeding sixty days. Transfer of certain pending proceedings Section 424 of the Act enables the Central Government to notify the date on which transfer the pending cases before various authorities to the Tribunal and the Appellate Tribunal. All matters, proceedings or cases pending before the Company Law Board immediately before such date shall stand transf .....

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