Section 438 of the Companies Act, 2013
📘 Section 438 – Application of the Limitation Act, 1963
Companies Act, 2013
🔍 Provision Summary:
Section 438 of the Companies Act, 2013 states that the Limitation Act, 1963 shall apply to proceedings before the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT).
⚖️ Key Highlights:
Applicability:
All proceedings (applications, appeals, etc.) before NCLT or NCLAT are governed by the Limitation Act, 1963.
Effect:
It means that there are time limits for filing cases, appeals, or applications before these tribunals.
Delays beyond the prescribed period may require justification or may lead to dismissal.
Tribunal’s Discretion:
The tribunals have powers similar to courts under the Limitation Act, such as condonation of delay if sufficient cause is shown (as per Section 5 of the Limitation Act).
🧾 Legal Text (Simplified):
The provisions of the Limitation Act, 1963 shall, as far as may be, apply to proceedings or appeals before the Tribunal or the Appellate Tribunal.
📌 Purpose:
To standardize the treatment of delays and filing timelines in corporate legal proceedings.
To ensure fairness and legal certainty.
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