• Divyanshita Singh

SECTION 414. SALARY, ALLOWANCES, AND OTHER TERMS AND CONDITIONS OF SERVICE OF MEMBERS

Updated: Oct 18

SECTION 414. SALARY, ALLOWANCES, AND OTHER TERMS AND CONDITIONS OF SERVICE OF MEMBERS


Members of the Tribunal and the Appellate Tribunal shall be paid the following salaries, allowances, and other terms and conditions of service as may be prescribed:

However, the Members' salary and allowances, as well as their other terms and conditions of service, should not be changed to their prejudice after their appointment.


Applicable Rules

National Company Law Appellate Tribunal (Salaries, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2015.


2. Define terms:- (1) Unless the situation indicates differently, in these regulations, –


a) The Companies Act, 2013 (18 of 2013) is referred to as the "Act."


b) "Chairperson" refers to the Appellate Tribunal's Chairperson, who is appointed under section 412(1) of the Act.


(2) In these regulations, words and expressions that are not defined but are defined in the Act have the meanings ascribed to them in the Act.


3. Make a payment- (1) The Chairperson is entitled to a monthly remuneration of Rs. 90,000/- (fixed) and such other allowances as an officer in the Cabinet Secretary's Scale of Rs. 90,000/- is entitled to (fixed).


(2) A Judicial Member and Technical Member shall be paid a salary of Rs. 80,000/- (fixed) and such other allowances as an officer in the Apex Scale of Rs. 80,000 is entitled to (fixed).


(3) If a person appointed as the Chairperson or a Member, as the case may be, receives a pension, their compensation will be reduced by the gross amount of the pension received.


4. Pension, Gratuity, or Provident Fund.— (1) If a serving Supreme Court or High Court judge, a serving Judicial Member of the Tribunal, or a person in the Government's service, is appointed to the post of Chairperson, Judicial Member, or Technical Member, as the case may be, the service rendered in the Appellate Tribunal shall count for pension, to be drawn in accordance with the rules of the service to which he belongs, and he shall also be governed by the rules of the service to which he belongs.


(2) In all other situations, the Contributory Provident Fund (India) Rules, 1962 govern the Members.


(3) Additional pension and gratuity are not admissible for service in the Appellate Tribunal.


5. Leave. — (1) For each year of service, the Chairperson and every other Member are entitled to thirty days of Earned Leave.


(2) Rule 40 of the Central Civil Services (Leave) Rules, 1972 governs the payment of leave wage while on leave.


(3) The Chairperson and Members shall be entitled to leave encashment in respect of the Earned Leave to which they are entitled, subject to the condition that the total amount of leave encashment, including that, received at the time of retirement from the previous service, does not exceed the limit outlined in the Central Civil Service (Leave) Rules, 1972.


Leave sanctioning authority. – The President of India shall be the competent authority to sanction leave for the Chairperson, and the Chairperson shall be the leave sanctioning authority for the Members.


7. Travelling allowances.- (1) The Chairperson, while on tour within India or on transfer (including the journey undertaken to join the Appellate Tribunal or on the completion of his tenure with the Tribunal to proceed to his hometown), shall be entitled to the traveling allowance, daily allowance, transportation of personal effects and other similar matters at the same rates as are admissible to the officer of the Central Government in the equivalent grade of Rs. 90,000 (fixed).


(2) While on tour within India or on transfer (including the journey undertaken to join the Appellate Tribunal or on completion of his tenure with the Appellate Tribunal to return to his home town), a Member of the Appellate Tribunal is entitled to the same traveling allowance, daily allowance, transportation of personal effects, and other similar matters as are admissible to a Central Government officer in the Apex Scale of Rs. 80,000/-. (fixed).

8. Official visits abroad. — (1) The Chairperson's official visits overseas shall be conducted exclusively in line with directives issued by the Central Government, and he shall be entitled to the same allowances for such visits as a Central Government officer in the equivalent grade of Rs. 90,000. (fixed).


(2) The Member's official visits abroad shall be conducted solely in compliance with directives issued by the Central Government, and he shall be entitled to receive the same allowances for such journeys as officers of the Central Government in the Apex Scale of Rs. 80,000/-. (fixed)