10FA. DISSOLUTION OF COMPANY LAW BOARD:
On and from the companies commencement(Second Amendment) Act,2002, the Company Law Administration Board constituted under sub-section (1) of section 10E shall stand dissolved.
On the Company Law board dissolution, the persons appointed as Vice Chairman, Chairman and officers and members and other that board employees and holding office as immediately such before such commencement shall vacate their offices respective and no such Chairman and member and Vice-Chairman and other employee and officer shall be entitled to claim any compensation for premature termination of his office of the term or any service contract.
Provided that other employee or every officer, who has been, immediately before the Company Law Board dissolution appointed to that Board on basis of the deputation, shall, on such dissolution, reverted stand to his parent cadre, Department or Ministry, as the case may be:
Further provided that every officer and the Company Law Board other employee employed by that Board on regular basis, shall become, on and from the Board dissolution, employee and the officer, respectively of the Central Government with the rights that are the same and as to pension privileges, gratuity and other like benefits as would have been admissible to him in relation if the rights to that Board had not been transferred to and vested in, the Central Government and shall continue unless to dos so and until in the Central Government his employment is terminated duly or until his remuneration, conditions and terms of employment are altered duly by that Government.
Provided that also notwithstanding contained anything in the Industrial Disputes Act,1947 (14 of 1947), or in any other law for the time that was in force, the services transfer of any officer or the Company Law Board employed other employee to any compensation under this Act or under any other Law for the time being in force and no such claim shall be entertained by any court, Tribunal (including the Tribunal under this Act) or other Authority.
Provided also that where the Company Law Board has established a provident fund, fund superannuation, welfare fund or the benefit of officers for other fund and other employed employees in that Board, the monies relatable to the other employees and officers whose services have been transferred by or to the Central Government under this Act shall out of standing monies, on the Company Law Board dissolution to the credit of such superannuation fund, welfare fund, provident fund or other fund, stand transferred to, and vest in, such monies and the Central Government which stand so transferred shall be dealt with by that Government as may be prescribed in such manner.
All proceedings or matters or pending cases before the Company Law Board on or before the Tribunal Constitution under section 10FB, shall, on such constitution stand transferred to the National Company Law Tribunal and the said Tribunal shall dispose of such cases in accordance with this Act provisions.
#10 Appeal from the Tribunal Order:
Any aggrieved person by a decision or Tribunal order may prefer a Tribunal appeal of an Appellate.
No appeal shall lie to the Appellate Tribunal from a decision or made an order by the Tribunal with the consent of the parties.
Under sub-section(1) every appeal shall be filed within a period of forty-five days from the date on which the copy order or decision made by the Tribunal is received by the appellant which shall be in such form and that accompanied prescribed fee.
Provided that the Appellate Tribunal may entertain the said period after the expiry aforesaid forty-five days period if it is satisfied from that date that was prevented by the appellant was prevented by sufficient cause in time without filing from the appeal.
On a preferred receipt of an appeal under subsection (1), the Tribunal Appellant shall, after giving parties to the appeal, an opportunity of being heard, pass thereon such orders as it thinks fit, modifying, confirming, or aside setting against appealed the order.
The Appellate Tribunal shall send every copy order made by it to the Tribunal and the parties of the appeal.
The appeal before filed the Appellate Tribunal under sub-section(1) shall be dealt with by it as expeditiously as possible and endeavour shall be made by it to the appeal dispose of finally appeal within six months from the receipt date of the appeal.
Appellate Tribunal Vacancy, etc
In the occurrence event of any vacancy in the Chairperson office of the Appellate Tribunal of his death by reason, otherwise or resignation, the senior-most member of the Appellate Tribunal shall act as the Appellate Tribunal Chairperson until the date on which a new appointed Chairperson in respect with this provisions Act to fill that vacancy enters upon his office.
When the Appellate Tribunal Chairperson is not able to discharge his function in his absence, or other cause or illness, the most-senior Member or, as may be the case, such one of the Appellate Tribunal Members, as the Central Government may, by notification, in this behalf authorize, shall discharge chairperson functions until the date on which resume the Chairperson his duties.
If, for reason other than the temporary absence, any vacancy in the office occurs in the office of a Member or a Chairperson, the Central Government shall appoint another person in respect with this provisions of this Act to fill the vacancy and the proceedings may be continued the Appellate Tribunal before from the stage to fill the vacancy.
Office Term of Members and Chairperson
The Appellate Tribunal Member or Chairperson shall hold office as such for the three years term from the date on which he enters upon his office, but shall be eligible for appointing again for three years another term: Provided that no Chairperson or other Member shall hold office as after such he has attained,-
a, in the Chairperson case, the seventy years age;
b, in any other Member case, the age of sixty-seven years.
Chairperson Resignation and Members.
The Chairperson or the Appellate Tribunal Member shall hold office as such for the three years term from the date on which he enters upon his office, but shall be eligible for an appointment again for another three years term: Provided that no Chairperson or other Member shall hold office as after such he has attained;
in the Chairperson case, the age of seventy years;
in any other case member, the age of sixty-seven years.
10FU. Chairperson resignation and Members.
The Chairperson or Appellate Tribunal Member may, by notice in order which has written his addressed hand to the Central Government, resign his office:
Provided that the Chairperson or the Appellate Tribunal Member shall, unless by the Central Government he is permitted to relinquish his office sooner, continue to hold office until three months expiry from the receipt date of such notice or until a duly appointed person as his successor enters upon his office or until the expiry of his office term, whichever is the earliest.
Removal and Chairperson Suspension and Appellate Tribunal Members:
The Chairperson or the Appellate Tribunal Member shall, unless he is permitted by the Central Government to relinquish sooner his office, continue to hold office until the three months expiry from the receipt date of such notice or until a duly appointed person as his successor enters upon his office or until his expiry office term, whichever is the earliest.
Removal and Chairperson Suspension and Appellate Tribunal.
The Central Government may, with the Chief Justice of India in consultation, remove from the Chairperson office or any Appellate Tribunal Member who
has been an insolvent adjudged; or
has been of an offence convicted which, in the Central Government opinion, involves turpitude moral or
has become mentally or physically incapable of acting as such Member or such Chairperson of the Appellate Tribunal or;
has acquired other interest or such financial as is likely to prejudicially affect his functions as such Appellate Tribunal Member or Chairperson or
has so abused his position as his continuance to render in prejudicial office to the interest of the public.
The Chairperson or a Appellate Member shall not be removed from his office except by an order by the Central Government made of proved on the ground misbehavior or after an inquiry incapacity made by a Supreme Court Judge in which such member or Chairperson had been informed of the charges against him and a reasonable opportunity given in accordance with those charges being heard.
The Central Government may suspend the Chairperson office or of the Appellate Tribunal Member in accordance of whom a reference has been made to the Supreme court judge under sub-section (2) until the Central Government has passed orders on the reported receipt of the Supreme Court judge on such reference.
The Central Government may by rules, regulate the investigation procedure of the misbehaviour of the Chairperson incapacity or a Member referred to in sub-section (2).
10FW. Salary, Allowances and Other Terms and Service conditions of Members and Chairperson.
The allowances and the salary and service conditions of the Chairperson and other Terms and the Appellate Tribunal other Members shall not be varied to their disadvantage after appointment.
10FY. Chairperson, etc., to be servants of the public.
The members, chairperson, officers and other Appellate Tribunal employees and the Members, Officers, the President and Tribunal other employees shall be deemed to be servants of the public of section 21 of the Indian Penal Code (45 of 1860) within the meaning.
10FZ Action Protection taken in Good Faith.
No prosecution, suit or other legal proceedings shall lie against the Appellate Tribunal or its ChairPerson, officer, Member or against the Tribunal or other employee, its President, officer, Member or other employee or in operation agency or any other person or authorised liquidator by the Appellate Tribunal or in the discharge of any Tribunal function under this Act for any damage or loss caused or by any act likely to be caused which is in good faith done or intended to be done in this Act pursuance.
