Companies Act Section 420 — Orders of Tribunal

CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Commercial / Corporate

Summary

Sub-section (1) allows the Tribunal to pass any order it considers appropriate in a proceeding, but only after giving all parties involved a fair chance to present their side.

Sub-section (2) lets the Tribunal correct any mistake in its own order that is obvious from the record, and it can do this within two years from the date of the original order. If the parties point out such a mistake, the Tribunal is required to make the correction. However, this correction cannot be made if an appeal against the order has already been filed under the Act.

Sub-section (3) requires the Tribunal to send a copy of every order it passes under this section to all the parties concerned in the proceeding.

Official Text

(1) The Tribunal may, after giving the parties to any proceeding before it, a reasonable opportunity of being heard, pass such orders thereon as it thinks fit.

(2) The Tribunal may, at any time within two years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it, and shall make such amendment, if the mistake is brought to its notice by the parties:

Provided that no such amendment shall be made in respect of any order against which an appeal has been preferred under this Act.

(3) The Tribunal shall send a copy of every order passed under this section to all the parties concerned.