Amended and updated notes on section 420 of Companies Act 2013. Detail discussion on provisions and rules related to orders 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 420 of CA 2013 provides for orders of Tribunal.
Recently, we have discussed in detail section 419 (Benches of Tribunal) of CA 2013. Today, we learn the provisions of section 420 of the Companies Act 2013.
The provisions of section 420 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 420 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. | 420 |
| Section Name | Orders of Tribunal |
| Monthly Updated Edition | Company Law PDF |
Section 420 of Companies Act 2013: Orders of Tribunal
Section 420 shall come into force on 1st June, 2016 vide Notification No. S.O. 1934(E) issued dated 01.06.2016.
(1) The Tribunal may, after giving the parties to any proceeding before it, a reasonable opportunity of being heard, pass such orders thereon as it thinks fit.
(2) The Tribunal may, at any time within two years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it, and shall make such amendment, if the mistake is brought to its notice by the parties:
Provided that no such amendment shall be made in respect of any order against which an appeal has been preferred under this Act.
(3) The Tribunal shall send a copy of every order passed under this section to all the parties concerned.