Companies Act Section 440 — Transitional provisions

CHAPTER XXVIII SPECIAL COURTS

Commercial / Corporate

Summary

Until a Special Court is actually set up, any offence under this Act that is meant to be tried by a Special Court will instead be tried by the regular criminal court that has authority over the area where the offence occurred. That regular court can be a Court of Session, a Court of Metropolitan Magistrate, or a Judicial Magistrate of the First Class, depending on the case. This arrangement applies even if the Code of Criminal Procedure, 1973 would normally say otherwise.

The High Court still keeps its existing power under section 407 of the Code of Criminal Procedure to transfer any case or group of cases that a regular court has taken cognizance of under this section. Nothing in this section takes away that transfer power.

Official Text

Any offence committed under this Act, which is triable by a Special Court shall, until a Special Court is established, be tried by a 3[Court of Session or the Court of Metropolitan Magistrate or a Judicial Magistrate of the First Class, as the case may be] exercising jurisdiction over the area, notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974):

Provided that nothing contained in this section shall affect the powers of the High Court under section 407 of the Code to transfer any case or class of cases taken cognizance by a 1[Court of Session or the Court of Metropolitan Magistrate or a Judicial Magistrate of the First Class, as the case may be] under this section.