Companies Act Section 410 — Constitution of Appellate Tribunal

CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Commercial / Corporate

Summary

The Central Government will create the National Company Law Appellate Tribunal through an official notification. The notification will specify the date from which the Tribunal becomes operational. The Tribunal will consist of a chairperson and a number of Judicial and Technical Members, as decided by the Central Government, who will be appointed through notification.

Under clause (a), the Tribunal is set up to hear appeals against orders issued by the Tribunal (the National Company Law Tribunal) or by the National Financial Reporting Authority under the Companies Act.

Under clause (b), the Tribunal is also set up to hear appeals against any direction, decision, or order referred to in section 53A of the Competition Act, 2002, and these appeals will be handled according to the provisions of that Competition Act.

Official Text

The Central Government shall, by notification, constitute, with effect from such date as may be specified therein, an Appellate Tribunal to be known as the National Company Law Appellate Tribunal consisting of a chairperson and such number of Judicial and Technical Members, 1***, as the Central Government may deem fit, to be appointed by it by notification, 2[for hearing appeals against—

(a) the 3[orders of the Tribunal or of the National Financial Reporting Authority] under this Act; and

(b) any direction, decision or order referred to in 4[section 53A] of the Competition Act, 2002 (12 of 2002) in accordance with the provisions of that Act].