Amended and updated notes on section 410 of the Companies Act 2013 as amended by the Companies (Amendment) Act, 2020 and Company Rules made there under. Detail discussion on provisions and rules related to Constitution of Appellate Tribunal.
Chapter XXVII (Sections 407 to 434) of the Companies Act 2013 (CA 2013) deals with the provisions related to accounts of companies. Section 410 of CA 2013 provides for Constitution of Appellate Tribunal.
Recently, we have discussed in detail section 409 (Qualification of President and Members of Tribunal) of CA 2013. Today, we learn the provisions of section 410 of the Companies Act 2013. The amended provision of section 410 is effective for the financial year 2020-21 onwards.
In this article, you will learn detail of the provisions of section 410 of the Companies Act 2013 Bare Act read with the relevant Company Rules 2021 as provided by Ministry of Corporate Affairs (MCA), Government of India.
| 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. | 410 |
| Section Name | Constitution of Appellate Tribunal |
| Monthly Updated Edition | Company Law PDF |
Section 410: Constitution of Appellate Tribunal
The Central Government shall, by notification, constitute, with effect from such date as may be specified therein, an Appellate Tribunal to be known as the National Company Law Appellate Tribunal consisting of a chairperson and such number of Judicial and Technical Members, not exceeding eleven, as the Central Government may deem fit, to be appointed by it by notification, for hearing appeals against,—
- (a) the order of the Tribunal under this Act; and
- (b) any direction, decision or order referred to in section 53A of the Competition Act, 2002 in accordance with the provisions of that Act. or of the National Financial Reporting Authority.
[Section 410 has been amended [Omitted and substituted] w.e.f. 22.01.2021 by the Companies (Amendment) Act, 2020 vide Notification No. S.O. 325(E) dated 22.01.2021]
Relevant information for section 410
Constitution of NCLAT
The National Company Law Appellate Tribunal (NCLAT) has now been constituted with effect from 1st day of June, 2016 vide Notification No. S.O. 1933(E), dated 01-06-2016.
The Central Government has revised the tenure of office of Justice (Retd.) Shri Bansi Lal Bhat and Justice (Retd.) Shri A.I.S. Cheema as Judicial Member, National Company Law Appellate Tribunal (NCLAT) for a period till their attaining the age of 67 years, or until further orders, whichever is earlier. – Notification No. S.O. 96(E), dated 05-01-2021.
The Central Government has extended the term of office of Justice (Retd.) Shri Bansi Lal Bhat, Member (Judicial) as officiating Chairperson, National Company Law Appellate Tribunal (NCLAT) is extended for a period of three months w.e.f. 01.01.2021 or till the appointment of regular Chairperson in NCLAT or until further orders, whichever is the earliest. – Notification No. S.O. 192(E), dated 15-01-2021.
The Central Government w.e.f. 18th March, 2020 constitutes another Bench of the National Company Law Appellate Tribunal (NCLAT) at Chennai to hear the appeals against the orders of the Benches of the National Company Law Tribunal (NCLT) having jurisdiction of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Lakshadweep and Puducherry.
The Bench of the NCLAT at New Delhi shall be known as the Principal Bench of the NCLAT which shall continue to hear appeals other than those in the jurisdiction of Chennai Bench of the NCLAT. – Notification No. S.O. 1060(E) dated 13-03-2020.
The Central Government appoints Shri Balvinder Singh, as Technical Member in the National Company Law Appellate Tribunal in the pay scale of ₹80,000/- (fixed) with effect from the 1st July, 2016, for a period of five years or till he attains the age of sixty seven years, whichever is earlier. – Notification No. S.O. 2677(E) dated 10-08-2016.
The Central Government hereby appoints Shri Kanthi Narahari as Technical Member in the National Company Law Appellate Tribunal in the pay scale of rupees 2,25,000/- with effect from the 10th April, 2019, for a period of three years or till he attains the age of sixty-seven years, whichever is earlier. – Notification No. S.O. 2220(E), dated 28-06-2019.
The Central Government hereby appoints Justice (Retd.) Venugopal M and Justice (Retd.) Jarat Kumar Jain as Judicial Member and Sh. Vijai Pratap Singh and Dr. Ashok Kumar Mishra as Technical Members in the National Company Law Appellate Tribunal in level-17 in the pay matrix (₹2,25,000/- fixed) with effect from 23.10.2019 for a period of three years or till the attaining the age of sixty-seven years or until further orders, whichever is the earliest. – Notification No. S.O. 4279(E), dated 27-11-2019.
The Central Government hereby appoints Justice (Retd.) Anant Bijay Singh (w.e.f. 21.01.2020) as Judicial and Ms. Shreesha Merla (w.e.f. 22.01.2020) and Shri Alok Srivastava (w.e.f. 14.02.2020) as Technical Members in the National Company Law Appellate Tribunal in level-17 in the pay matrix (Rs. 225000/- fixed) with effect from the dates mentioned against each for a period of three years or till the attaining the age of sixty-seven years or until further orders, whichever is the earliest. – Notification No. S.O. 1050(E), dated 12-03-2020.