GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

THE COMPANIES (MEDIATION AND CONCILIATION) RULES 2016 AN OVERVIEW

Corporate Laws / Banking / SEBI - By: - Mr.M. GOVINDARAJAN - Dated:- 16-9-2016 - The Government has made The Companies (Mediation and Conciliation) Rules, 2016 ( Rules for short) vide Notification dated 09.09.2016. The said rules came into effect from 09.09.2016. The Rules contains 30 Rules. The Rules prescribes the procedure for the empanelment of mediator or conciliator, their qualifications, disqualifications, appointment of mediator or conciliator, time limit for conducting mediation or con .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

on any other web site as may be notified by the Central Government; The Regional Director may invite applications from persons, having necessary qualifications,interested in getting empanelled as a mediator or conciliator ; An eligible person shall apply to the Regional Director in Form MDC - 1; The Regional Director shall invite applications from persons interested every year during the month of February and update the panel which shall be effective from 1st April of every year; For the financ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Judge of the Supreme Court of India; or has been a Judge of a High Court; or has been a District and Sessions Judge; or has been a Member or Registrar of Tribunal constituted at the National level under any law for the time being in force; or has been an officer in the Indian Corporate Law Service or Indian Legal Service with 15 years experience; or is a qualified legal practitioner for not less than 10 years; or is or has been a professional for at least 15 years of continuous practice as Chart .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

offence which, in the opinion of the Central Government, involves moral turpitude; has been removed or dismissed from the service of the Government or the Corporation owned or controlled by the Government; has been punished in any disciplinary proceeding, by the appropriate disciplinary authority; or has, in the opinion of the Central Government, such financial or other interest in the subject matter of dispute or is related to any of the parties, as is likely to affect prejudicially the dischar .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

writing and after giving him reasonable opportunity of being heard, remove any person from the panel. Appointment of mediator or conciliator Rule 6 provides that the parties concern may agree on the name of the sole mediator or conciliator for mediation or conciliation between them. If two or more sets of parties are there and it is unable to agree on a sole mediator or conciliator the Central Government or the Tribunal or the Appellate Tribunal may ask each party to nominate the mediator or co .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Tribunal or the Appellate Tribunal, as the case may be, before which any proceeding is pending may, suo motu, refer any matter pertaining to such proceeding to such number of experts from the panel, if it deems fit in the interest of parties. Withdrawal of appointment Rule 9 provides that the mediator or conciliator shall require to disclose about any circumstances which may give rise to a reasonable doubt as to his independence or impartiality in carrying out his functions. Every mediator or co .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

point any other person as mediator or conciliator from the panel. The mediator or conciliator may also offer to withdraw the appointment and request for the appointment of any other mediator or conciliator. Matters not to be referred to mediation or conciliation Rule 30 provides that the following matters shall not be referred to mediation or conciliation- the matters relating to proceedings in respect of inspection and investigation or the matters which relate to defaults or offences for which .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in mediation or conciliation proceedings - The mediator or conciliator shall fix the dates and the time of each mediation or conciliation session in consultation with the parties so as to enable them to be present; The mediation or conciliation shall be held at the place decided by the Central Government or the Tribunal or the Appellate Tribunal, as the case may be, or such other place where the parties and the mediator or conciliator jointly agrees; A joint or separate meetings may be conducted .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

iators may first concur with the party that agreed to nominate him and thereafter interact with the other mediator or conciliator, with a view to resolve the dispute. The parties shall be present personally or through an authorized attorney; The parties may be represented by an authorized person or counsel with the permission of the mediator or conciliator; The party may also be directed to be present in person in any of the hearing; Where the party is not residing in India may be represented by .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

have end the same shall report to the Central Government or the Tribunal or the Appellate Tribunal; The mediator or conciliator, with the consent of the parties may arrange for administrative assistance by a suitable institution or person; In the midst of the proceedings the parties may arrive at a settlement with the other party; The mediator or conciliator shall attempt to facilitate voluntary resolution of the dispute by the parties and communicate the views of each party to the other, assis .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s; On consent of the parties the mediator or conciliator may impose such terms and conditions on the parties for early settlement of the dispute as he may deem fit; The proceeding shall be completed within 3 months from the date of appointment of expert from the panel; On the expiry of the three months the proceedings shall stand terminated; In case of mediation or conciliation in relation to any proceedings before the Tribunal or the Appellate Tribunal which could not be completed within 3 mont .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ity to present such explanation as it may consider appropriate; When a party gives information to the mediator or conciliator subject to a specific condition, such information may be kept confidential; The mediator or conciliator shall not disclose that information to other party; The entire proceedings shall be confidential and the mediator or conciliator shall not be compelled to divulge information regardingthose documents nor as to what transpired during the mediation or conciliation before .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

onfidential or other notes, drafts or information given by the parties or the mediator or conciliator; Proposals made or views expressed by the mediator or conciliator; Admission made by the party in the course of proceedings; There shall be no audio or video recording of the proceedings; No statement of parties or the witnesses shall be recorded by the mediator or conciliator; The proceedings shall be conducted in privacy; Other persons may attend only with the permission of the parties and wit .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

consent of the parties; about his assessment that the case is not suited for settlement through mediation or conciliation; about settlement of dispute between the parties; Where an agreement is reached between the parties in regard to all the issues or some of the issues, the same shall be reduced in writing signed by the parties and if any counsel has represented the parties,the conciliator or mediator may also obtain the signature of such counsel on the settlement agreement; The agreement sha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version