Power of NCLT regarding Orders u/s 420 of CA Act 2013

By | June 18, 2016

Section – 420 of Companies Act 2013

Enforced w.e.f 1-6-2016. NOTIFICATION NO. SO 1934(E) [F.NO.A-45011/14/2016-AD.IV], 

Orders of Tribunal.

420. (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.

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