Companies Act Section 411 — Qualifications of chairperson and Members of Appellate Tribunal

CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Commercial / Corporate

Summary

Sub-section (1) states that the chairperson must be someone who is, or has previously been, a Judge of the Supreme Court or the Chief Justice of a High Court.

Sub-section (2) states that a Judicial Member must be someone who is, or has previously been, a Judge of a High Court, or who has served as a Judicial Member of the Tribunal for five years.

Sub-section (3) states that a technical member must be a person of proven ability, integrity and standing, with special knowledge and professional experience of at least twenty-five years in the fields of industrial finance, industrial management, industrial reconstruction, investment and accountancy.

Official Text

(1) The chairperson shall be a person who is or has been a Judge of the Supreme Court or the Chief Justice of a High Court.

(2) A Judicial Member shall be a person who is or has been a Judge of a High Court or is a Judicial Member of the Tribunal for five years. 5[

(3) A technical member shall be a person of proven ability, integrity and standing having special knowledge and professional experience of not less than twenty-five years in industrial finance, industrial management, industrial reconstruction, investment and accountancy.]