Companies Act Section 434 — Transfer of certain pending proceedings

CHAPTER XXVII NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL

Commercial / Corporate

Summary

Sub-section (1) states that on a date notified by the Central Government, certain pending proceedings are to be transferred. The text as provided is incomplete and does not specify what exactly is transferred or to which body, but it indicates that the transfer happens on a date set by the Central Government, with an additional proviso that is not fully written out here.

Sub-section (2) says that the Central Government may make rules, consistent with the provisions of this Act, to ensure that all matters, proceedings, or cases pending before the Company Law Board or the courts are transferred to the Tribunal in a timely manner under this section.

Official Text

(1) On such date as may be notified by the Central 4[Provided also that]—

(2) The Central Government may make rules consistent with the provisions of this Act to ensure timely transfer of all matters, proceedings or cases pending before the Company Law Board or the courts, to the Tribunal under this section.]