Section 435 of the Companies Act, 2013 – Establishment of Special Courts
Updated: Oct 14, 2022
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Chapter XXVIII of the Companies Act, 2013 deals with provisions related to 'Special Courts'. Section 435 of the Act provides for the establishment of special courts. It states that:
By notification, the Central Government may set up or designate as many Special Courts as necessary to provide speedy trial of offences punishable under this Act with imprisonment of two years or more. Provided, however, that all other offences shall be tried, by a Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under this Act or any previous company law.
A Special Court is composed of a single judge who is nominated by the Central Government with the approval of the Chief Justice of the High Court in the jurisdiction of which the judge is functioning.
The judge to be appointed should be serving as a Sessions Judge or an Additional Sessions Judge immediately prior to such appointment.