Section 412 of the Companies Act, 2013
Section 412 of the Companies Act, 2013
Title: Selection of Members of Tribunal and Appellate Tribunal
Bare Act Language:
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.
The Members of the Tribunal and the Technical Members of the Appellate Tribunal shall be appointed on the recommendation of a Selection Committee consisting of:
(a) Chief Justice of India or his nominee — Chairperson
(b) A senior Judge of the Supreme Court or Chief Justice of High Court — Member
(c) Secretary in the Ministry of Corporate Affairs — Member
(d) Secretary in the Ministry of Law and Justice — Member
(e) Any other person appointed by the Central Government — Member
The Secretary in the Ministry of Corporate Affairs shall be the Convener of the Selection Committee.
Purpose of Section 412:
This section lays down the procedure and authority for selecting members of:
National Company Law Tribunal (NCLT), and
National Company Law Appellate Tribunal (NCLAT)
It ensures appointments are made with judicial oversight and proper expert scrutiny, maintaining the independence and integrity of these bodies.
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