Selection of Members of Tribunal and Appellate Tribunal.
NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL
[Section 412 is brought to force with effect from September 12, 2013.]
Section 412. (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.
(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 ofâ€”
(a) Chief Justice of India or his nomineeâ€”Chairperson;
(b) a senior Judge of the Supreme Court or a Chief Justice of High Courtâ€”Member;
(c) Secretary in the Ministry of Corporate Affairsâ€”Member;
(d) Secretary in the Ministry of Law and Justiceâ€”Member; and
(e) Secretary in the Department of Financial Services in the Ministry of Financeâ€”Member.
(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.