2

CHAPTER

s in - ♦ .National Company Law Tribunal., .

'1 o
♦ .National Company <-Law Appellate Tribunal
, 1

♦ Special Courts , '

The Central Government has the overall responsibility for administration
and enforcement of the Companies Act. The Ministry of Corporate Affairs
(MCA) of the Go~ernme°:t of India is the nodal agency/authority 2013
which has been given vanous powers under the Act. Most of the powers
are vested to the authorities created under the Act.
1. Tribunal: The Companies Act, 2013 has introduced National Company
Law Tribunal (NCLT) and the National Company Law Appellate
Tribunal (NCLAT). The Tribunalis a quasi-judicial body to administer
the provisions of the Companies Act. The Tribunal exercises such
powers which are conferred on it by the Companies Act, 2013 and
any other law for the time being in force.
2. Regional Directors: The Regional Directors are appointed by the
Central Government who are in-charge of the respective regions, each
•
region comprising a number of States and Union Territories. They
supervise the working of the offices of the Registrars of Companies
and the Official Liquidators working in their regions. They also
maintain liaison between the respective State Governments and the
Central Government in matters relating to the administration of the
Companies Act, 2013.
3. Registrar of Companies (ROC): Registrars of Companies ~ROCs)
appointed by the Central Government under the Compames ~ct,
2013 are the full-time officers appointed in various Stat~s ~d Umon
Territories who are vested with the primary duty of registenng ·Gorn-

25
 111
f corJ
tJ"' iJ. rr it o ri e s and

26 AD r,IJN lST
tu\110N ° f
d tp e
stateS a ~ tb stas10
v ru
to
o n
rY
r e
r
e q u ir e rn e n ts
o f re c o rd s
vJil
\V1 d
re g is h ~ e a v a il a b le
. the re ecth'e JllplY ,rlle ,
. noatedJll h co sP .es co ft,lllc u·ooeJJl a Ju e
, w f th e p re scribed of 9 ·
,,, mpanl f ROCd ¢
I p a n i~ g that s~ h
ens the Act. e o ff !c ~ :g is te re b li co
th th Il le n t~ c o n tr o
aJlles th e pll n P ah tl st ra tl V e l over cof11
under the comP b er so f dJJl
~
.Jl5t C
f~ ~ :; :t io n ~
cises a • l I

ti Jn e o ff ic e rs
i!['I1111ent exer
e th e w b ~ ~ ~ t th
fn e
th e ce n tr e w in d in g
~:~e offices. . .d at ors ar d to coll a11d. ~
•· official Liqtlie ap h
4 o
!f lc ia lL lq :« :: pointe rcise so c p o w e rs a n d ·ostJ
~ :: ~ e n te :: i. T th e T ri b u n a l J •th
. oftheCentr anie beY ~ x : tbe!ll b I

s by y y/1 f'
up of comp h duti the n b e entr11ste
es as . saU·s •I
erforrn sue Gov may e st a b li sh
as many decis•
ernment. . din
~ d the Central T ent maY e o f proVI has pc
h Central G o v er g
s. Special Court:'as ;a n ~ o r the pUfPO
~ c o n s is ts o f
Special ~ :: .f of
y be n e c e s s ~ c
t. Special Corn rn a rhe d
speedy tn fe nces u n d e rt t h e n t w it h th e supre 1
single judge w hf o his appointed Y e Chen tral Goveurt w it h
e High Co in w h o s e
concurrence o _ Chief Ju st ic e o f t. ki ng 01ffert
.urisdiction the JUt; to b e ap p o in te .
ge d is wor
Col11P 2
J
NATIONAL C O M W TRIBU AL 1. 1
COMPANYPL~afrn't ,P E L L A TN AND NA
E TRIBUNAL TIONAL J\
National Co~pan w T ri b n al (NC
~ ~~CLAT) uar LT) a ? t~e_Nat 2. N
A pp e th e quasi-nJu ion~
dicial bodiesCtoo m p ~ y _Law
~~~
ella
3 rovides forers
. es an mtedTnbatunt a relating
to co m p an ie s in In
d ia
a d Ju d .i c a te 3. E·
the constitution N . al . T he C ompanies A c t,
(NCLf) and the N o f th e a n o n C 1 ta
°1?Pany L a w T ri
lays down its com ational Company L aw Appella buna ar.
position an d p o w t~
er s u n d e r se ct ioTnbuna1 (NCLAT) a n d
The Central Gover n s 407 to 43 _
(NCLT) under sect
nment h as co n st
it u
4. F a
ion 408 o f th e C te d N ~ ti o n al Company L aw 4 'f
1st June, 2016. In
the first p h as e th
o m p ~ e s Act, 20
13 W ith ef f
'b J wt
up one Principal e Mrrustry o f C u n a
Bench at New D
el h i a n d 11 B en
o rp o ra te J\ff . e 11
c t from le e
Delhi, Ahmedabad ch es
Hyderabad, Kolka , A llahabad, B g al u , o n e au-s h a s s e t Cornpoa11
ta an d M u m b aen i
ru , C h a n d ig a rh
, C h e ~a?h at New
The establishmen
t of th e National
Company Law ai, G a ll h a ti , The Nati.
dates the corpora T ri b u nal
te iu number <J
I. Company Law Brisdiction o f th e fo ll o w in g au th
2 oard. o n ·t · (Ncl1 )~ Central C
- Board for Indu
strial a n d F in an Ies: On.sou - of th
3. The App late ci al R e c o n st ru c ti o n A c Pr ei,
4 Ju n d . el
· ·
Authority fo r In
s iction an d p o w
d u st ri
er s re la ti n g to
a l
.
a n d F in a n c ia l "D ri:· lhc P;
other such Provisi
ons, v es te d in th
w in d ' ~ec
ti~t
b a tc'111
e H ig h ~Urtup, 0
restrllqlt. ~ ~ li c,h lit \hc111 h
s. Qllal
li.11 .,. n lf1cau,
~ ~t)cJ I

f,
"l e: J)
re '- :
 ADMIN ISTRA TION OF COMPA NY LAW
27
·th the establisJm:ient of the NCLT and NCLAT, the Company Law Board
Wider the Comparues Act, 1956 stands dissolved.
tJ11 rovisions relating to the investigation of a company's accounts
TbeP · swts,· convers10n
· freezing
assets, class action of a public company to a' private
of any are governed by the NCLT, and appeal theref rom by the NCLAT
cofllP d of High Court.
iJlstea .
Tribunal (NCLT) is not bound by the strict judicial rules of evidence
ThJ rocedure. It can decide cases by fallowing the principles of natur al
:tire. NC LAT<:>~"Appellate Tribun~~ is an autho rity provid ed for dealing
~th appeals ansm g out of th~ dec1s10ns of the Tribu nal. Any party
dis-
t' fied by any order of the Tnbu nal may bring an appea l to conte st that
~:::sion. The Appe~ate Trib~ al revie ~s the decisions of the Tribu nal and
nany has power to set aside, modif y or confi rm it.
ding The decisions of Appellate Tribu nal can furthe r be challe nged in the
of a
the Supreme Court.
tose Difference betwe en Natio nal Comp any Law Tribu nal (NCLT) and Natio nal
Company Law Appe llate Tribu nal (NCLAT)
1. The NCLT has prima ry jurisd iction where as NCLAT has appel late
jurisdiction.
2. NCLAT is a highe r quasi -judic ial body than NCLT.
LW 3. Evidence and witne sses are gener ally prese nted befor e NCLT for
te taking the decis ions and NCLAT gener ally review s decis ions of NCLT
:t, and check s it on a point of law or fact.
11 4. Fact findin g and evide nce collec tion is prima rily a task of Tribu nal
d where as the Appe llate Tribu nal decid e cases based on alrea dy col-
lected evide nces and witne sses.
1 Composition of the NCLT
The National Comp any Law Tribu nals consi st of a Presi dent and such
number of Judic ial and Tech nical Mem bers not excee ding sixty two, as
the
Central Gove rnme nt deem s neces sary. The quali ficati ons for appo intme
nt
of the Presid ent and mem bers of the Tribu nal have been laid down by the
Act. The Presi dent and every other Mem her of the Tribu nal shall hold
office
for a term of three years from the date on whic h he enter s upon his office
but shall be eligib le for re-ap point ment .
Qualification of President and Mem bers (Sect ion 409)
The ~resid ent shall be a perso n who is or has been a Judg e of a High Cour t
for five years .
 is
,. .. ,, ,, .. , o·
~ bt' pl,,-so n, \v\' ·
t ,r ~ht\\\ ~h co''"' '. or ·L,r::-,., o r
A ,,1tli1:it, l " •l \\ )t ,· H
't , t)t,-t'' ' id'' d~re ,1 i8 r \' ,,t \ct'~'
f\ , f \\lc; y e or h e l d a j· d l \
· .\ ,~
t•u l )r h t,~ . ·t J\tlJgc o l' \ C r t.
0 ,, U c l\\
, bt~ pis tn (; " . l,J 'l
( t,) ,~ llr
ho~ , "stt.\te , t\ S o t\ vO' '\ f o r
n yc..•l\ ~~ Tr
II . h :\~ fc.ll ib \\\1 1..\ \.
( d tl1l~' ' t\ t l~ \ t , ,u bc..•r ot n
o r :\:; n
"):
adtt"'°' ,.~.,..,..,. . , . 5efe C'
-on who: co
. -a \b
A Tt-ch ntc, l men1b~r sh tu t;, u P~1~ . of th e 1° d/'ian r p o r at""A ,:h e p
~ . nft cl'n • b ~t:n
nb~' \ 1 ;\st t h r e e y
(ll) ha s f
or nt_k~~~·I y cttt'::i , • 1 l\ n 1 l' ' o
f \ \/ hiC1 '
a l e ,~ e ars of th l
Law Serv nd io n L c g
a\ So~~,
i<.: C ottl chi ef
tCt . . o l t fi f.tee
as Join t s e r a bove; ta
c1~ t a - ccot.111 ,, o t f or at eas n 'Th e ~
(b) isor h a b 1 111 1p~ i nc
tic e as n ch
~r t e r~ d a
s e-~ 1

T rib~
vo~ M or
<> l "S
, t le a s t f i f
(c) iso r h as bee .
n in pr ac uc as a c oc... t acc 0
u n t an t fo r a t e en c ons'
years; or e (a)
(d) is or h
as been in · p racti.ce a co mp any
as secreta
. , fo r a t l
e a s t fi. ft e e (b)
v l) n
. ears; or
(e) is a peled ,en ability, .
m t e g n.· ty and stan m
d' h av i n .
know rse~,en : : : ~ e r i e n c e g g s p e cia l ( c)
, of not les . e a r s , i.n la
dustrialfin . s th a w ·
ance a l ndmfi , tn-
reconstruc . ,i· ndu stt n manae,o·em en t or a ft~u~u: t~ation , i n d u s ( cl)
other discipuon , mves m en t' accoun t a n cy labour n1 trial
lin es relat ed to , a tt e rs, or su h ( e;
rehabilitati manage m e n t conduct of a
•
on and win
d in g u p ' . . ffairs, r e v1· e l
(f) is has been of compam
es , o r va,
C,oourrt, Tiib ' for a t least fi ve ye ars T he
unalorNat
Disputes A ionalTn·bu al , a presiding offic e r o S e \ e,
u t e u n de h f a L a b o u r
ct, 1947. n c o n s t i·t d
Constitutio
n o f Nati rt elnd u s t n·a l
(Section 41 onal C o m
0) p a n y Law Tern
The Centra Appellate
Tribunal
l
Company L Government shall (NCLAT) Th e
aw Appella b
members n te Tribuna y n o t i f i c a t i o n, c o n as S l
l, t o b e h s
o
the Tribuna t exceeding eleven e a d e d by t i t u t e a n .
l. for hearin a Ch .
N o f f ic
g appeals
again ~ a t io n a l
Qualificatio rrph erso n a Am
ns for App s t e or d e n d
ellate Trib rs o f
The chairpe unal (Sec (a
rson sh all b e a p e r s tion 411)
Court or th on
e Chief Jus
tice of a H w h o is o r h a s b e e n a ( IJ
ig h Court. J
u d g e of th A Pl
eS
lll)rernc a p p~
cad ,
a~
 ADM INIS TRA TIO N OF COMPAN
Y
LAW
J dicial Me mb er sha ll be a per son 29
A ;to r wh .
is a Jud icia l Me mb er of the Tri~ Is orl fhas
':>ee a Judge of a Hig h
una or ftv e nyea
Co
'f chnical Me mb er sha ll be a per son rs
:!ld aju dj . ~ ~aving special kno wle dge and expof p ·
Clqj 1.11g in Jaw, ind ust rial fina nc e, ind usteri rov en0 ~bility, integrity and stand-
vears, . . riaelnc e, not less tha n twenty-five
~ d strial rec ons truc t10 n, mv est me nt acma nag em ent or a d mm ..
1.11 ~ oth er disciplines rela ted to ma na' 1stration,
::ia bili tati on and win din g up of com ge; :~n tan ~?" lab our ma tter s, or
pan ies ~ , con uct of affairs, revival,
Selection of Me mb ers (Section 412
Co rpo rat e )
rre e Ye ars Th e Pre sid ent of the Tri bun al and the Ch airn ers on
ll
Chief Just1ce O
at
of the ApJ:>e t In~~
T 'b I hal l b
una , s
Ia.
~.t'
and J d' . M b
u icia1 em ers
e app oin ted afte r con sul tati on wit h the
tstf ifte en
The Me mb ers of the !rib un al and the
Tec hni cal Me mb ers of the Appellate
Tribunal sha ll be app om ted on the rec
t fift een om me nda tion of a Sel ect ion Com mit tee
consisting of:
(a) Chi ef Jus tice of Inq .ia or his nom
ine e - Ch airp ers on;
: fift een (b) a sen ior Jud ge of the Su pre me
Co urt or a Chi ef Jus tice of Hig h Co urt
- Me mb er;
spe cia l ( c) Sec ret ary in the Mi nis try of Co
rpo rat e Aff airs - Me mb er;
lW, in- (d) Sec ret ary in the Mi nis try of La w
1StriaJ and Jus tice - Me mb er; and
suc h (e) Sec ret ary in the De par tm ent of
Fin anc ial Ser vic es in the Mi nis try
Fin anc e - Me mb er. of
vival,
The Sec ret ary , Mi nis try of Co rpo rat
e Aff airs sha ll be the Co nve ner of
I Sel ect ion Co mm itte e. the
Jou r
trial
Terms of Office (Se cti on 413):
t\T) The President and every oth er Memb
er of the Tribunal shall hold office
as such for a term of five yea rs fro m the
dat e on which he enters upon his
office, but shall be eligible for rea pp oin tm
1al ent for another ter m of five years.
1d A member of the Tribunal shall ho ld off
ice as suc h until he attains:
of (a) in the case of the Pre sid ent , the age
of sixty-seven years;
(b) in the case of an y oth er Me mb er,
the age of sixty-five years:
A person who has no t co mp let ed fifty
ye ars of age shall no t be eligible for
appointment as Me mb er. Th e Me mb er
ma y ret ain his lien with his pa ren t
cadre or Ministry or De pa rtm en t, as the
cas e ma y be, while ho ldi ng office
as such for a per iod not exceeding one year.
 ~LAW
f coMP I shall hold off·
ATJON o e 'fribunars upon his Offi'"'
ADMI.NJSTR . "ppeU~t h ]le ent~ of five Years ~ . ••
f the ,.. whiC r ter .
j
I 30 Mcl11 ber1oe d a te onfor a nothe as su ch until he attai""'-'
. crson or ti ·s frol11 t ,_ trrient d office ears;
.. ·
.
•
The c h::111-p f five ye~ ·c-appotf1
for" tcrr11 u l'g ible tor, 'bunal sh
all J,ol ventY y
ge of se . ty-seven years:
•
bul shall be c, Appel/al e Tri on th• • ge of s•~ t be eligible I
A Mcmbcrofthc f the chairpers ~er, the af ge sha~ nowith his pai,~
.. •
•
h. c ·,se o
(a) ;n' c •
h . MeITl
of any ot er O a
fftY years etain
his Jjen
while
Id.in ~••t
ho g o.,ic, •
• •
( b) in the case completed • ber rnaY r .-.1aY be, •

i
h not
A person w o has ember. Th e Mernas the c ase 1 "
·ntment as M D
. . try or ep ding one year.
artrnent,
appot
c
adre or Mims . d
eno no
t excee
t'
•
as such for a P ches, cons 1tute~ •
Bens hall be a J udicia.i
Powers and Procedure
f the Tri bun m ut of W
hichbyone
al ay be exerc ised
ber. • •
:;~;,';,'~~ent !~~~~•;echnical Me:f being heard to th~ •
.-
(I) of the
Member and another
5
pportunitY ders thereon as it • ••
(2) The Tribunal may, afterd' giving an °
before it, pass such or
Parties to an Y procee mg
. ht.
thmks . view its own orders. powers ,
(3) The Tribunal shall have power to re d . ion of the Tribuna may
1 ..,.,e
of
(4) Any person aggrieved by an order or ec1s
Tribunal. S01L&

prefer an appeal to the Appellate h II ot be bound by the asfoUov

5
(5) The Tribunal and the Appellate Tri~~al ad::re 1908, but shall be 1. Cl
the ot h er prov1-.
. d . h CO deofCivilProce ,
procedureJrud _ow_mn t e • • Subject to 2. D
guided by the pnnc,ples of natural JUslice. h C tral Government,
sions of this Act and of any rules made by t e en I 3. R
the Tribunal and the Appellate Tribunal shall have power to regu ate
their own procedure. 4. r
5. 1
(6) The Tribunal and the Appellate Tribunal shall have the same powers
as are vested in a civil court under the Code of Civil Procedure, 1908 6. ]
while trying a suit in respect of the following matters: 7.
(a) summoning and enforcing the attendance of any person
examining him on oath;
and 8.
9.
( b) requiring the discovery and production of documents·
(c) receiving evidence on affidavits· ' \0.
,
(d) subject to the provisions of the fudian Ev·d \ \.
reqws1tionmg
. . . . I ence Act ' 1872 ,
any public record or document \2
record or document from any office; or copy of such \1
(e) issuing commissions
documents·, for the examination of \ ..:
Witness<:s or \:
 AOMINISTM f\TIUN l W t'UMl't\ NY I fl. W
at
unal shall hold • , .7 fts• dc•t.·ls h.m s :
, jc;:\\'11 ...-
nters up~m his 0 ~i~C;! (/) '"'' . . ·hl11 0 1-cp1-csc ntnt Ion l'o1· lll•I l\ lllt 01 . ti ·I II II
~rm of five Yectt-s ~~ fisrot~ I h Tl lb I 01 '-'" l Il l,& fl.X 11rirt«1, •
(f,U ' es n,odl' by c · um, 11
' "-' Appt'IIUl l! 'l'1•lhu11ul 111u l,
such untilheatt : ,· t)J,J b thnt Tribunul In thl' l'tl\111"' lll tlllll \' I' ll'4 11. 11 I Y u
y years; <¼is: ,1>"'}ofl~-<1 -~ourt inn suit pcndlny th t• i·dll
. bV tl
w~i·u ll t c~ t•u~
err l '

•-seven years: 11 ,:,dc.· · '(..-dirt8S bcfo!'«: the Tdbunl\l or th\' Appdlut1.• Trlh I l II
not be eligible f, (~
') All p•~;ed
dCt; 11
to be jud1c u:u proc
J}
c cdlnijs
· · di ti'
within lhc lndlu11 '
Pc~~• lt
·L / 'lit'
u '- Ul u.
m with his p~ 0 t ~· . tu-tshal 1aveJuns c on locntc1'luln cmy Bl.Ill
,ile holding 0 i:c_~llt 9) ]'loci~~of any matte r \.~hich the Tribunal or the Appclt:,r~~r~~bulu~
wered to determine by or under this Acl i.m<.l no I j ~~u
'-tic~ (
jS er:
i11 , ~
granted by any co~t or other authority In
sh~ taken or to be taken m pursuance of any power conf • ..1 by
rcspc:~:r\~"
crrcu y
8 cuon thi Act
r under s .
0
1es, constituted person aggrieved by any decision or order of the Appellate
JI be a JudiciaJ (JO) tbunal may file an appeal_ to 1:1te Supreme Court within sixty days
the date of com-?1urucation of the decision or order of th
r heard to the ,Z"°;nate Tribunal to him on any question of law arising out of such
thereon as it d%cision or order.

powers of NCLT
ibunal may f the important powers that are pres~ntly vested with NCLT are
sorne O
as follows: .
md by the l. Class-action smts
utshall be companies
~erprovi- 2_ Deregistration of
3. Remedy against oppression and mismanagement
emment,
regulate 4. Remedy in case of refusal to transfer shares
5. Redressal for deposits with the companies
powers 6. Reopening of Accounts and Revision of Financial Statements
·e, 1908 7. To order investigation against the company
8. To investigate into the ownership of the company
in and 9. Power to impose restrictions on securities
10. Power to freeze assets of the company
11. Conversion of public company into private company
12. Convening of AGM and EGM of the company
872,
13. Compounding of offences
1ch
14. Change in Financial Year
or 15. Power to appoint Interim Insolvency Professional; pass liquidation
order; and to dissolve a company.
 N'[Lf\W
of coMPA
JSTRATION
ADMl N
d detair.
·n provisions on t~ an \(
32 2013 cont~~ial and di~posa} (.)~ be cornP
Special courts h , compa nies
5 to 446 of t l: of proVl
A_dfng
spee~{3 with impnsonrnet\t code~f C
belieVlng
Act, 2
Sections 43 f . the purpose panieS detentior
spt•cial cour·t~ o~le under the Corn
offences punrsha . G \5 day~ (
ars or more. Central overnrnel\t E;,tecut1,
of two ye£ ecial Court 2013, the be necessary t court h :
Establish~ent of ~P of the Companies A~;i courts as rn:;:panies Act, 201~ trY sucb
As per sect.Ion 435d( )·gnate as many spebc1l under the Ct all other offence. take co:
t blish or esi · ha e d tha • ~ ( iii) out the
ma_v _es a
provide speedY trial of offences purus
or more. provide
. l\,1agt ·strateffor a J ud1cial
d
.th imprisonment of two yearsb Metropolitan tr)' anY o ence un er the po1
;~all .
be tried as the case may be _Ya ·unsdiction to
f th First Class havmg J •
comp\.
M~gistrate o e evious company law. hall be appomted by (iv) try at t
this Act or under any pr . •udge who 5 . f Justice of the under
A Special Court shall consi~~
the Central Government ~ 1 . . .
~t: th
~:;~:1-rence of e Cp~:ted is working
he •udge to be ap (v) if the
High Court within whose Junsdiction t J . offen
[Section 435(2)]. holding an office of a impn
The Judge of a "special ~~urt" mus~ be .:xe:~[;ection 435(3)]
case
Sessions judge or an Additwnal Sesswns J g . A t the Central impr
In exercise of the powers con f erre d b Y the Comparues c '
f the respective Chief Appeal/Re
Government after obtaining the co~currence o ah ashtra Jammu For appea
Justices of High Courts, existing courts m the State of~ ar '
and Kashmir, Goa, Gujarat, Madhya Pradesh, Chhatt1sgar?, West ~engal, if the Spe
Gujarat, Rajasthan, Punjab, Manipur, Meghalaya and Uruo~ temtory of Court w e
Andaman and Nicobar Islands and Dadra and Nagar Haveli and Daman jurisdicti,
and Diu, Chandigarh, Puducherry, Delhi and Coimbatore (Tamilnadu) Compou
have been.designated as Special Courts for the purposes of trying offences
under the Companies Act, 2013. As per the notification, these courts have The offe
been designated for the purposes of trial of offences punishable under the fine, or ·
Companies Act, 2013 with imprisonment of 2 years or more. with the
Offences triable by Special Courts
As per the provisions of the Companies Act, 2013, following off
triable by Special Courts: ences are
(1) offences for which the Companies Act, 2013, provides f . . 1.
ment of 2 years or more; or nn pnson - 2.
(iz) cases forwarded by a Magistrate (where he think d
necessary) for ~~y offence committed under thes Coete ntio~
· is un-
3.
2013. This prov1s1on will come into play when a p . rn~anies Ac t
erson is a . 4
rrestc<l
5
 ADMINISTRATION OF CO M PANY LAW
33

d detained in ~us_tcxly, and ~t appears that th e investigation cannot

isio ns on
I disposa.1t}ie ;l.f1 :0111pleted w i thin lhe penod of 24 h o u rs as required under the ,
rode
'
1priso T1Jl) Of of Criminal Proced~. 1973 _(CrPC) and the r e are grounds for
tha t th e a ccusatmn or information is . ll-f
we ounded . an d
e l) t , -ing
t,cIi e . th . d b . M .
Jc;:renu·on 1s a u o. nze ~o-i"'trate for a pen·od no t ex· c e edin g
' . -o->
-.
15 days (if ord ~red by Judicial M agistrate) or 7 day s (if ordered b y
w enun f:.~e--cutive Magistra te), as t he case may _be. In such cases. the Special
ces e nt court has the same pow er as the M agistrate having jurisdiction to
sary t o u-v such c ase;
Act, 2013
offences .. -~-e cognizance of an offence under the Companies Act 2013 v.rith-
( ur) c~ ed be. . . . ' •
t JudiciaJ · out the accus mg COffiIIlltted to 1t for trial upon: (a) perusal of
:e unde,- the p<>lice report of ~he ~acts constituting such offence, or (b) if a
complaint has been filed m that behalf;
--i ted by id tr)" at the s~e tria_l ~ offence for which an accused may be charged
~ of the
( under CrPC m addition to an offence under the Companies Act, 2013;
orking (v) if the Special Court thinks _fit, it may try in a summary way, any
offence under the Compames Act, 2013, which is punishable with
imprisonment for a term not exceeding 3 years, provided that in the
~ of a case of any conviction in such trial, person cannot be sentenced for
imprisonment for a term exceeding 1 y ear.
ntraJ Appeal/Revisions from Special Courts to High Courts
'.h ie£
For appeal and revision, the High Court have been granted jurisdiction, as
1mu
if the Special Court within the local limits of the jurisdiction of the High
gal,
Court were a Court of Session trying cases within the local limits of the
of jurisdiction of the High Court.
an
u) Compounding under Special Courts
~s The offences under the Act, for which the punishment is "imprisonment or
fine, or with imprisonment or fine or with both" are compoundable only
with the pennission of the Special Court.

REVIEW QUESTIONS

1. Write a short note on National Company Law Tribunal.

2. Discuss briefly the constitution of National Company Law Tribunal
and National Company Law Appellate Tribunal.
3. What are the powers of National Company Law Tribunal?
4. Write a short note on special courts under the Companies Act, 2013.
5. What are the offences triable by special courts?