SECTION 418 STAFF OF TRIBUNAL AND APPELLATE TRIBUNAL
Updated: Oct 18, 2022
In this section, it talks about -
The Central Government the consultation with the Tribunal (National Company Law Tribunal- NCLT is a quasi-judicial body that is allowed for dealing with the corporate disputes which are civil and arising under the Companies Act) and the Appellate Tribunal (National Company Law Appellate Tribunal- NCLAT) depending on the case, with such officers and other employees as may be necessary for the exercise of the Tribunal's powers and the discharge of the Appellate Tribunal's functions.
The President, or as the case may be, the chairperson, or any other member to whom powers for exercising such superintendence and control have been delegated, shall supervise the officers and the other employees of the NCLT and NCLAT in performing their duties.
Salaries, allowances, and other terms and conditions of employment for the NCLT and NCLAT’s offices and other workers shall be such as may be prescribed.
What is the National Company Law Tribunal?
It is a quasi-judicial body that is authorized to deal with corporate disputes which are civil and arising under the Companies Act.
The current President of NCLT is Chief Justice (Retd.) Ramalingam Sudhakar.
The Tribunal will handle all Companies Act actions, including arbitration, agreements, compromises, reconstruction, and corporate wound-up.
Not a single civil court will have jurisdiction over the before-mentioned matters.
The cases which are pending before the (BIFR) Board for Industrial and Financial Reconstruction,, as well as those pending under the Sick Industrial Companies (Special Provisions) Act, 1985, might be heard by the NCLT.
Also, matters pending before the Appellate Authority for Industrial and Financial Reconstruction will be taken up.
It can also take on matters involving corporate oppression and mismanagement.
Benches of National Law Tribunal-
Principle Bench i.e., New Delhi
Gujarat Dadra and Nagar Haveli Daman and Diu
Jammu and Kashmir