Companies Act Section 421 — Appeal from orders of Tribunal
CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL
Commercial / Corporate
Summary
Sub-section (1) allows any person who is unhappy with an order made by the Tribunal to challenge it by filing an appeal with the Appellate Tribunal.
Sub-section (2) states that no appeal can be made to the Appellate Tribunal against an order that the Tribunal made with the agreement of all the parties involved.
Sub-section (3) sets the time limit for filing an appeal under sub-section (1). The appeal must be filed within forty-five days from the date the person receives a copy of the Tribunal's order. It must be in the prescribed form and accompanied by the required fees. However, the Appellate Tribunal may accept an appeal filed after this forty-five day period, but only within an additional period of up to forty-five days, if it is satisfied that the person filing the appeal had a good reason for not filing it on time.
Sub-section (4) says that once the Appellate Tribunal receives an appeal, it must give the parties a reasonable chance to be heard. After that, it can pass any order it considers appropriate, which may confirm, change, or cancel the original order that was appealed against.
Sub-section (5) requires the Appellate Tribunal to send a copy of every order it makes to the Tribunal and to the parties involved in the appeal.
Official Text
(1) Any person aggrieved by an order of the Tribunal may prefer an appeal to the Appellate Tribunal.
(2) No appeal shall lie to the Appellate Tribunal from an order made by the Tribunal with the consent of parties.
(3) Every appeal under sub-section (1) shall be filed within a period of forty-five days from the date on which a copy of the order of the Tribunal is made available to the person aggrieved and shall be in such form, and accompanied by such fees, as may be prescribed:
Provided that the Appellate Tribunal may entertain an appeal after the expiry of the said period of forty-five days from the date aforesaid, but within a further period not exceeding forty-five days, if it is satisfied that the appellant was prevented by sufficient cause from filing the appeal within that period.
(4) On the receipt of an appeal under sub-section (1), the Appellate Tribunal shall, after giving the parties to the appeal a reasonable opportunity of being heard, pass such orders thereon as it thinks fit, confirming, modifying or setting aside the order appealed against.
(5) The Appellate Tribunal shall send a copy of every order made by it to the Tribunal and the parties to appeal.