Amended and updated notes on section 409 of Companies Act 2013. Detail discussion on provisions and rules related to qualification of President and Members of 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 409 of CA 2013 provides for qualification of President and Members of Tribunal.
Recently, we have discussed in detail section 408 (Constitution of National Company Law Tribunal) of CA 2013. Today, we learn the provisions of section 409 of the Companies Act 2013.
The provisions of section 409 are effective from 12th September, 2013. You may refer Notification No. S.O. 2754(E) dated 12-09-2013. In this article, you will learn detail of the provisions of section 409 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. | 409 |
| Section Name | Qualification of President and Members of Tribunal |
| Monthly Updated Edition | Company Law PDF |
Section 409 of Companies Act 2013: Qualification of President and Members of Tribunal
Section 409 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.
(1) The President shall be a person who is or has been a Judge of a High Court for five years.
(2) A person shall not be qualified for appointment as a Judicial Member unless he—
- (a) is, or has been, a judge of a High Court; or
- (b) is, or has been, a District Judge for at least five years; or
- (c) has, for at least ten years been an advocate of a court.
Explanation: For the purposes of clause (c), in computing the period during which a person has been an advocate of a court, there shall be included any period during which the person has held judicial office or the office of a member of a tribunal or any post, under the Union or a State, requiring special knowledge of law after he become an advocate.
(3) A person shall not be qualified for appointment as a Technical Member unless he—
- (a) has, for at least fifteen years been a member of the Indian Corporate Law Service or Indian Legal Service and has been holding the rank of Secretary or Additional Secretary to the Government of India; or
- (b) is, or has been, in practice as a chartered accountant for at least fifteen years; or
- (c) is, or has been, in practice as a cost accountant for at least fifteen years; or
- (d) is, or has been, in practice as a company secretary for at least fifteen years; or
- (e) is a person of proven ability, integrity and standing having special knowledge and professional experience of not less than fifteen years in industrial finance, industrial management, industrial reconstruction, investment and accountancy.; or
- (f) is, or has been, for at least five years, a presiding officer of a Labour Court, Tribunal or National Tribunal constituted under the Industrial Disputes Act, 1947.