What is Limitation? What is Transfer of certain pending proceedings? Section 433 and 434 of Indian Companies Act 2013

Limitation and Transfer of certain pending proceedings are defined under Section 433  and 434 of Indian Companies Act 2013. Provisions under these Sections are:

Section 433 of Indian Companies Act 2013 "Limitation"

The provisions of the Limitation Act, 1963 shall, as far as may be, apply to proceedings or appeals before the Tribunal or the Appellate Tribunal, as the case may be.

 

Section 434 of Indian Companies Act 2013 "Transfer of certain pending proceedings"

(1) On such date as may be notified by the Central Government in this behalf, -

(a) all matters, proceedings or cases pending before the Board of Company Law Administration (herein in this section referred to as the Company Law Board) constituted under sub-section (1) of section 10E of the Companies Act, 1956, immediately before such date shall stand transferred to the Tribunal and the Tribunal shall dispose of such matters, proceedings or cases in accordance with the provisions of this Act;

(b) any person aggrieved by any decision or order of the Company Law Board made before such date may file an appeal to the High Court within sixty days from the date of communication of the decision or order of the Company Law Board to him on any question of law arising out of such order:

Provided that the High Court may if it is satisfied that the appellant was prevented by sufficient cause from filing an appeal within the said period, allow it to be filed within a further period not exceeding sixty days;

(c) all proceedings under the Companies Act, 1956, including proceedings relating to arbitration, compromise, arrangements and reconstruction and winding up of companies, pending immediately before such date before any District Court or High Court, shall stand transferred to the Tribunal and the Tribunal may proceed
to deal with such proceedings from the stage before their transfer.

(d) any appeal preferred to the Appellate Authority for Industrial and Financial Reconstruction or any reference made or inquiry pending to or before the Board of Industrial and Financial Reconstruction or any proceeding of whatever nature pending before the Appellate Authority for Industrial and Financial Reconstruction or the Board for Industrial and Financial Reconstruction under the Sick Industrial Companies (Special Provisions) Act, 1985 immediately before the commencement of this Act shall stand abated:

Provided that a company in respect of which such appeal or reference or inquiry stands abated under this clause may make a reference to the Tribunal under this Act within one hundred and eighty days from the commencement of this Act in accordance with the provisions of this Act:

Provided further that no fees shall be payable for making such reference under this Act by a company whose appeal or reference or inquiry stands abated under this clause.

(2) The Central Government may make rules consistent with the provisions of this Act to ensure timely transfer of all matters, proceedings or cases pending before the Company Law Board or the courts, to the Tribunal under this section.

What is Appeal from orders of Tribunal? What is Expeditious disposal by Tribunal and Appellate Tribunal? Section 421 and 422 of Indian Companies Act 2013

What is Appeal to Supreme Court? What is Procedure before Tribunal and Appellate Tribunal? Section 423 and 424 of Indian Companies Act 2013

What is Power to punish for contempt? What is delegation of powers President, Members, officers, etc., to be public servants? Section 425, 426 and 427 of Indian Companies Act 2013

What is Protection of action taken in good faith? What is Power to seek assistance of Chief Metropolitan Magistrate, etc? What is Civil court not to have jurisdiction? Section 428, 429 and 430 of Indian Companies Act 2013

What is Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings? What is Right to legal representation? Section 431 and 432 of Indian Companies Act 2013

What is Limitation? What is Transfer of certain pending proceedings? Section 433 and 434 of Indian Companies Act 2013

What is Establishment of Special Courts? What re Offences triable by Special Courts? Section 435 and 436 of Indian Companies Act 2013

What is Appeal and revision? What is Application of Code to proceedings before Special Court? What are Offences to be non cognizable? What are Transitional provisions? Section 437, 438, 439 and 440 of Indian Companies Act 2013

 

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