Companies Act

Section 409. Qualification Of President And Members Of Tribunal

Companies Act, 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 1[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


2[(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.]

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(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 (14 of 1947).

References

  1. Subs. by Act 1 of 2018, s. 82, for “out of which at least three years shall be in the pay scale of Joint Secretary to the Government of India or equivalent or above in that service” (w.e.f 9-2-2018).
  2. Subs. by s. 82, ibid., for clause (e) (w.e.f. 9-2-2018).

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