Amended and updated notes on section 422 of Companies Act 2013. Detail discussion on provisions and rules related to expeditious disposal by Tribunal and Appellate Tribunal.
Chapter XXVII (Sections 407-434) of the Companies Act, 2013 (CA 2013) deals with the provisions related to National Company Law Tribunal and Appellate Tribunal i.e. NCLT and NCLAT. Section 422 of CA 2013 provides for expeditious disposal by Tribunal and Appellate Tribunal.
Recently, we have discussed in detail section 421 (Appeal from orders of Tribunal) of CA 2013. Today, we learn the provisions of section 422 of the Companies Act 2013.
The provisions of section 422 are effective from 1st June, 2016. You may refer Notification No. S.O. 1934(E) dated 1-06-2016. In this article, you will learn detail of the provisions of section 422 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXVII |
| Chapter Name | National Company Law Tribunal and Appellate Tribunal |
| Section No. | 422 |
| Section Name | Expeditious disposal by Tribunal and Appellate Tribunal |
| Monthly Updated Edition | Company Law PDF |
Section 422 of Companies Act 2013: Expeditious disposal by Tribunal and Appellate Tribunal
Section 422 shall come into force on 1st June, 2016 vide Notification No. S.O. 1934(E) issued dated 01.06.2016.
(1) Every application or petition presented before the Tribunal and every appeal filed before the Appellate Tribunal shall be dealt with and disposed of by it as expeditiously as possible and every endeavour shall be made by the Tribunal or the Appellate Tribunal, as the case may be, for the disposal of such application or petition or appeal within three months from the date of its presentation before the Tribunal or the filing of the appeal before the Appellate Tribunal.
(2) Where any application or petition or appeal is not disposed of within the period specified in sub-section (1), the Tribunal or, as the case may be, the Appellate Tribunal, shall record the reasons for not disposing of the application or petition or the appeal, as the case may be, within the period so specified; and the President or the Chairperson, as the case may be, may, after taking into account the reasons so recorded, extend the period referred to in sub-section (1) by such period not exceeding ninety days as he may consider necessary.