SECTION-420 (Orders of Tribunal) under CHAPTER-XXVII (National Company Law Tribunal and Appellate Tribunal) of the Companies Act, 2013
(1) The Tribunal may, after giving the parties to any proceeding before it, a reasonable opportunity of being heard, pass such orders thereon as it thinks fit.
(2) The Tribunal may, at any time within two years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it, and shall make such amendment, if the mistake is brought to its notice by the parties:
Provided that no such amendment shall be made in respect of any order against which an appeal has been preferred under this Act.
(3) The Tribunal shall send a copy of every order passed under this section to all the parties concerned.
Extra Notes for Readers
(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013)
(2) Section 420 of the Companies Act, 2013 was notified by MCA Notification S.O. 1934(E) dated 1st June 2016 (w.e.f. 1st June 2016)
(3) Also refer:
- National Company Law Tribunal Rules, 2016 (notified on 21st July 2016)
- National Company Law Appellate Tribunal Rules, 2016 (notified on 21st July 2016)
This page was last updated on 2nd June, 2017.