Section 412 Selection of Members of Tribunal and Appellate Tribunal
- Amendments
- 1
- Last changed
- 9 February 2018
412. Selection of Members of Tribunal and Appellate Tribunal.—
(1) The President of the Tribunal and the chairperson and Judicial Members of the Appellate Tribunal, shall be appointed after consultation with the Chief Justice of India.
Substituted by Companies (Amendment) Act, 2017, s. 85, with effect from 9 February 2018. Earlier read: "sub-section (2)"(2) The Members of the Tribunal and the Technical Members of the Appellate Tribunal shall be appointed on the recommendation of a Selection Committee consisting of—
Substituted by Companies (Amendment) Act, 2017, s. 85, with effect from 9 February 2018. Earlier read: "sub-section (2)"(a) Chief Justice of India or his nominee—Chairperson;
Substituted by Companies (Amendment) Act, 2017, s. 85, with effect from 9 February 2018. Earlier read: "sub-section (2)"(b) a senior Judge of the Supreme Court or Chief Justice of High Court— MemberDefined in section 2(55): member, in relation to a company, means the subscriber to the memorandum entered in the register of members, every other person who agrees in writing to become a member and is entered in the register of members, and every person holding shares whose name is entered as a beneficial owner in depository records.;
Substituted by Companies (Amendment) Act, 2017, s. 85, with effect from 9 February 2018. Earlier read: "sub-section (2)"(c) Secretary in the Ministry of Corporate Affairs—MemberDefined in section 2(55): member, in relation to a company, means the subscriber to the memorandum entered in the register of members, every other person who agrees in writing to become a member and is entered in the register of members, and every person holding shares whose name is entered as a beneficial owner in depository records.; and
Substituted by Companies (Amendment) Act, 2017, s. 85, with effect from 9 February 2018. Earlier read: "sub-section (2)"(d) Secretary in the Ministry of Law and Justice—MemberDefined in section 2(55): member, in relation to a company, means the subscriber to the memorandum entered in the register of members, every other person who agrees in writing to become a member and is entered in the register of members, and every person holding shares whose name is entered as a beneficial owner in depository records..
Substituted by Companies (Amendment) Act, 2017, s. 85, with effect from 9 February 2018. Earlier read: "sub-section (2)"(2A) Where in a meeting of the Selection Committee, there is equality of votes on any matter, the Chairperson shall have a casting vote.
(3) The Secretary, Ministry of Corporate Affairs shall be the Convener of the Selection Committee.
(4) The Selection Committee shall determine its procedure for recommending persons under sub-section (2).
(5) No appointment of the Members of the Tribunal or the Appellate Tribunal shall be invalid merely by reason of any vacancy or any defect in the constitution of the Selection Committee.