SECTION-435 (Establishment of Special Courts) under CHAPTER-XXVIII (Special Courts) of the Companies Act, 2013
(1) The Central Government may, for the purpose of providing speedy trial of offences punishable under this Act with imprisonment of two years or more, by notification, establish or designate as many Special Courts as may be necessary:
Provided that all other offences shall be tried, as the case may be, by a Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under this Act or under any previous company law.
(2) A Special Court shall consist of a single judge who shall be appointed by the Central Government with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be appointed is working.
(3) A person shall not be qualified for appointment as a judge of a Special Court unless he is, immediately before such appointment, holding office of a Sessions Judge or an Additional Sessions Judge.
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 435 of the Companies Act 2013 was notified by MCA Notification S.O. 1795(E) dated 18th May 2016 (w.e.f. 18th May 2016).
(3) Section 435 of the Companies Act 2013 was modified by the Companies (Amendment) Act, 2015 (w.e.f. 29th May, 2015).
This page was last updated on 5th June, 2017.