Amended and updated notes on section 442 of Companies Act 2013. Detail discussion on provisions and rules related to mediation and Conciliation Panel.
Chapter XXVIII (Sections 435–446B) of the Companies Act, 2013 (CA 2013) deals with the provisions related to Special Courts. Section 442 of CA 2013 provides for mediation and Conciliation Panel.
Recently, we have discussed in detail section 441 (Compounding of certain offences) of CA 2013. Today, we learn the provisions of section 442 of the Companies Act 2013.
The provisions of section 442 are effective from 1st April, 2014. You may refer Notification No. S.O. 902(E) dated 27-03-2014. In this article, you will learn detail of the provisions of section 442 the Companies Act 2013 read with the Companies (Mediation and Conciliation) Rules, 2016.
| 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. | XXVIII |
| Chapter Name | Special Courts |
| Section No. | 442 |
| Section Name | Mediation and Conciliation Panel |
| Monthly Updated Edition | Company Law PDF |
Section 442 of Companies Act 2013: Mediation and Conciliation Panel
Section 442 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.
(1) The Central Government shall maintain a panel of experts to be called as the Mediation and Conciliation Panel consisting of such number of experts having such qualifications as may be prescribed for mediation between the parties during the pendency of any proceedings before the Central Government or the Tribunal or the Appellate Tribunal under this Act.
(2) Any of the parties to the proceedings may, at any time during the proceedings before the Central Government or the Tribunal or the Appellate Tribunal, apply to the Central Government or the Tribunal or the Appellate Tribunal, as the case may be, in such form along with such fees as may be prescribed, for referring the matter pertaining to such proceedings to the Mediation and Conciliation Panel and the Central Government or Tribunal or the Appellate Tribunal, as the case may be, shall appoint one or more experts from the panel referred to in sub-section (1).
(3) The Central Government or the Tribunal or the Appellate Tribunal before which any proceeding is pending may, suo motu, refer any matter pertaining to such proceeding to such number of experts from the Mediation and Conciliation Panel as the Central Government or the Tribunal or the Appellate Tribunal, as the case may be, deems fit.
(4) The fee and other terms and conditions of experts of the Mediation and Conciliation Panel shall be such as may be prescribed.
(5) The Mediation and Conciliation Panel shall follow such procedure as may be prescribed and dispose of the matter referred to it within a period of three months from the date of such reference and forward its recommendations to the Central Government or the Tribunal or the Appellate Tribunal, as the case may be.
(6) Any party aggrieved by the recommendation of the Mediation and Conciliation Panel may file objections to the Central Government or the Tribunal or the Appellate Tribunal, as the case may be.