Section 261 of the Companies Act, 2013
Section 261 of the Companies Act, 2013
Title: "Appeals from orders of the Tribunal"
📘 Summary:
Section 261 provides the right to appeal against orders passed by the National Company Law Tribunal (NCLT) in certain cases under the Companies Act, 2013.
🔍 Key Provisions:
✅ 1. Right to Appeal:
Any person aggrieved by an order of the Tribunal may appeal to the National Company Law Appellate Tribunal (NCLAT).
The appeal must be filed within 45 days from the date of the order.
🕒 2. Extension of Time:
The NCLAT may entertain an appeal after 45 days if it is satisfied that the appellant was prevented by sufficient cause from filing the appeal in time.
⚖️ 3. Appeal Procedure:
The appeal is to be made in the prescribed manner and form.
The appellate tribunal has powers to:
Confirm, modify, or set aside the order of the Tribunal,
Pass any other orders as it deems fit.
🧾 Purpose:
To provide a mechanism for review and correction of errors or unfair decisions made by the NCLT.
Ensures justice and fairness in the corporate legal process.
🔗 Related Sections:
Section 260 – Powers of the NCLAT.
Section 242 – Orders of the Tribunal in cases of oppression and mismanagement.
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